Tesla Claims Ex-Employee’s Lawsuit Funded by Short Seller

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When it comes to business, protecting your secrets is imperative, and some companies will go to great lengths to stop industry secrets from getting out.

According to Yahoo Finance, Tesla claimed in a filing on Monday that hedge fund Car Cable Capital LLC is funding the counterclaim of former Tesla employee Martin Tripp in an ongoing lawsuit. 

Car Cable Capital LLC has been short selling Tesla’s stock, and Tripp has already said under oath that he had no financial relationship with Tesla short sellers.

“Tripp has no excuse,” Tesla said in the filing. They continued, “He is fully aware of his confidentiality obligations and is openly flouting them. And he has a ready source to pay any monetary sanctions, as his bogus defamation counterclaim against Tesla is being funded by a hedge fund, Cable Car Capital LLC, which is also a short seller of Tesla stock.”

The lawsuit, originally brought forth by Tesla against Tripp, is claiming that Tripp has disclosed several confidential Tesla documents, transcripts, and filings publicly through social media. In particular, Tesla claims Tripp used Twitter, YouTube and Google Drive to share sensitive information with the public.

In 2018, Tripp filed a counterclaim with the courts, saying that Tesla had simply been trying to smear him through these accusations.

On Tuesday, a judge also issued an emergency order barring Tripp from sharing any other information, per Tesla’s request.

Tesla has definitely been involved in its fair share of lawsuits lately, and no matter the outcome of these cases, it’s certain that this company has a lot to protect.

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