Market Chatter: Tesla Settles Lawsuit Against Rivian-February 2024-www.financetom.com

Market Chatter: Tesla Settles Lawsuit Against Rivian

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Market Chatter: Tesla Settles Lawsuit Against Rivian

Nov 25, 2024 5:32 AM

08:03 AM EST, 11/25/2024 (MT Newswires) -- Tesla has reached a conditional settlement in its 2020 lawsuit against Rivian Automotive ( RIVN ) over allegations of stealing employees and trade secrets, Bloomberg reported Saturday, citing a court filing.

Tesla did not disclose details about the settlement in a court filing, the report said.

The four-year dispute is rooted in accusations by Tesla that Rivian poached employees and swiped proprietary battery technology, the report said. Rivian has denied the accusations.

Tesla and Rivian did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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