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Tesla says that the local seller is financing the lawsuit of the former worker

From Tesla Inc., says hedge fund Cable Car Capital LLC, which is shorting the company’s stock, is funding a former employee’s defamation allegations.

The carmaker said in a filing Monday that Martin Tripp’s 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.

Cable Car portfolio manager Jacob Ma-Weaver had no immediate comment.

Tesla sought an emergency order from a judge forbidding Tripp from publicizing confidential information. Tripp has disclosed volumes of Tesla’s confidential documents, deposition transcripts and filings in his posts on Twitter, YouTube and Google Drive, Tesla said in federal court in Reno, Nevada.

“Tripp has no excuse,” Tesla said. “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.”

By |2020-08-12T22:17:21+00:00August 12th, 2020|Categories: TESLA|Tags: |0 Comments

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