Tesla Inc (TSLA) Sues Ex-Employee Over Software Hack

NASDAQ: TSLA | Tesla, Inc. News, Ratings, and Charts

TSLA – Tesla has brought a lawsuit against a former employee who allegedly stole code.

Tesla Inc (NASDAQ:TSLA) is suing a former employee, Martin Tripp, for allegedly stealing MOS factory software and transferring massive amounts of data to outside sources.

Tripp denies the charges, which could land him in jail if found guilty. So, what is MOS software, anyway? CNBC has the answer:

First, this is not software that’s installed in Tesla’s vehicles. If anyone modified MOS code, they were not changing the code embedded on chips in Tesla’s cars.

Rather, Tesla built its MOS software to automate factory processes for assembling the Model 3, its newest vehicle. In general, MOS is used to track where a Model 3 is in the process of manufacturing, repairs and testing.

It’s important to note that the software in question has nothing to do with Tesla’s vehicles themselves. Instead, it’s factor software used to manufacture the cars — not operate the cars’ systems or self-driving capabilities.

Tesla Inc shares closed at $333.63 on Friday, down $13.88 (-3.99%). Year-to-date, TSLA has gained 7.16%, versus a 3.83% rise in the benchmark S&P 500 index during the same period.

TSLA currently has a StockNews.com POWR Rating of B (Buy), and is ranked #6 of 24 stocks in the Auto & Vehicle Manufacturers category.

TSLA at a Glance

TSLA Current POWR Rating™
Overall POWR Rating™
TSLA Current Price $267.18 2.60%
More TSLA Ratings, Data, and News

TSLA Price Reaction

The day of this event (Jun. 24, 2018)
TSLA Closing Price$333.01 0.19%
TSLA Volume6,931,300
0.93% from avg
Leading up to this event
TSLA 1-mo return20.08%
After this event
TSLA 1-day return2.45%
TSLA 3-day return4.66%
TSLA 5-day return0.43%

TSLA Price Chart

More Tesla, Inc. (TSLA) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All TSLA News
Page generated in 0.656 seconds.