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Self-driving startup Zoox settles trade-secrets lawsuit filed by Tesla [MarketWatch]

Tesla, Inc. (TSLA) 
Last tesla, inc. earnings: 4/29 04:11 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.tesla.com
Company Research Source: MarketWatch
Autonomous-vehicle startup Zoox said late Tuesday it has settled a lawsuit by Tesla Inc. that alleged theft of trade secrets. Last year, Tesla sued Zoox, claiming some of its former employees joined Zoox and brought proprietary information with them. In a statement Tuesday, Zoox said it will make a monetary payment to Tesla, the amount of which was undisclosed, and undergo an audit to make sure none of its employees have retained or are using confidential Tesla information. "Zoox acknowledges that certain of its new hires from Tesla were in possession of Tesla documents pertaining to shipping, receiving, and warehouse procedures when they joined Zoox's logistics team, and Zoox regrets the actions of those employees," the company said. Zoox's efforts to build an electric robo-taxi have been masked in secrecy, and the Silicon Valley company recently laid off more than 100 contract workers, according to The Verge, reportedly due to California's stay-at-home order amid the coronavirus pan Show less Read more
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