Hyperdrive
Tesla Says Short Seller Is Funding Ex-Employee’s Lawsuit
- Former worker accused of disclosing confidential information
- Tesla gets emergency order from U.S. magistrate judge
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Tesla Inc. says hedge fund Cable Car Capital LLC, which is shorting the company’s stock, is funding a former employee’s allegations that the company smeared him by accusing him of sabotage and stealing sensitive information.
The carmaker said in a filing Monday that Martin Tripp’s 2018 counterclaim against Tesla was being funded by Cable Car, even though Tripp has said under oath that he had no financing or connection to Tesla short sellers.