Don't mess with Musk: Tesla demanded $167 m from the former employee

The Elon Musk company and Martin Tripp have been litigating since June 2018. Tesla CEO told his staff about the sabotage at the same time. According to his statement, someone of the workers hacked an internal management system and passed the important data to third parties because he hadn`t get the promotion.

Telsa told the name of the worker, as a result of a corporate investigation and it turned out Martin Tripp had stolen the data. That`s why the electric car manufacturer brought a case to court against to the ex-employee.

Tripp said in August that Tesla used damaged batteries for new electric cars and hid this information from stockholders. Also, the man added that there were many different vehicle parts and other waste around a company's plant. He also has accused Musk of defamation and demanded $1 m from the company.

Tripp`s counsels said to CNBC: "Tesla has objected to Mr. Tripp’s desire to take more than ten depositions...In this case, where Mr. Tripp is being sued for more than $167,000,000 and has asserted counterclaims against Tesla, more than ten depositions is certainly reasonable and appropriate.”

“The purported damage amount claimed by Tesla relates to supposed dips in Tesla’s stock price by virtue of the information Mr. Tripp provided to the press last summer.” He characterized the damage claims as “absurd,” added Trip`s lawyer Robert D. Mitchell in an e-mail to CNBC.

GMOTrading is noting, a current value of Tesla stock is $366,7 and company`s capitalization amounted to approximately $63 bn on December 12, 2018.

If you want to know more about Tesla stocks, you should visit GMOTrading site.

The information above cannot be considered as an investment advice and past results do not indicate future performance.

**Investors should have experience and understand the risks of losing all the initial investment

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