Wednesday, June 20, 2018

"Tesla sues ex-employee for hacking, theft, and leaking to the press" (TSLA)

The stock is trading at $357.56 up $5.01 (+1.42%), a couple bucks below the 'magic line' we've looked at the last two days.
From the Verge:

Elon Musk claimed ‘sabotage’ earlier this week
Tesla filed a lawsuit on Wednesday alleging that a former employee hacked the company’s system and transferred “gigabytes” of data to unnamed third parties. The lawsuit may align with Tesla CEO Elon Musk’s recent claim of “sabotage” by an ex-worker. 

Tesla’s lawsuit names Martin Tripp, a former process technician at the company’s Gigafactory in Nevada, as the defendant. Tesla claims that Tripp “unlawfully hacked the company’s confidential and trade secret information and transferred that information to third parties.” To do so, Tripp placed “hacking software” in the computers of three individual employees to routinely export confidential data, the company says. 

Tesla says that Tripp has already admitted to hacking its manufacturing operating system, and the company accuses him of making false statements to the media about the stolen information. The suit, which was filed in federal court in Nevada, was first reported by CNBC

Tesla claims that Tripp was the source of a news report about punctured battery cells at Tesla’s factory.
For example, Tripp claimed that punctured battery cells had been used in certain Model 3 vehicles even though no punctured cells were ever used in vehicles, batteries or otherwise. Tripp also vastly exaggerated the true amount and value of “scrap” material that Tesla generated during the manufacturing process, and falsely claimed that Tesla was delayed in bringing new manufacturing equipment online.
The lawsuit doesn’t specify which media outlet Tripp leaked to, but earlier this month, Business Insider ran a story about scrap metal waste and punctured battery cells at Tesla’s factory, citing documents and former employees as sources...MORE