Martin Eberhard, co-founder of Tesla Motors, the makers of high-performance electric sports cars, is suing the company’s CEO, Elon Musk, citing allegations of slander, libel and breach of contract.
Eberhard’s lawsuit was filed on May 26th in San Mateo County, California Superior Court and seeks unspecified damages.
“Tesla Motors Inc. co-founder Martin Eberhard sued the company and Chief Executive Elon Musk, claiming Musk engineered his ouster and defamed him to take credit as the electric roadster’s creator.
Eberhard alleges that Musk began a campaign to take control of the electric-car start-up when he invested in the closely held company and joined its board in 2004.”
Eberhard claims that Musk falsely said that he was the founder of the company, and also lied about the extent of his involvement in the company, PayPal.
“Musk pushed Eberhard out three years later and sought to take credit for the idea behind the San Carlos, Calif., company by defaming Eberhard in media interviews and to Tesla workers and other investors”
“Eberhard contends he is owed severance pay and stock options. He also claims he was promised the second roadster off Tesla’s production line, which was finally delivered to him only after it had been smashed into the back of a truck by a Tesla Motors employee during a so-called endurance test, according to the complaint.”
Tesla is planning to counter sue Eberhard, it is unclear how much Eberhard is seeking in damages.
“Daimler recently tool a 10% (or $50 million) stake in Tesla, putting the company’s valuation at $500 million.”
Click to view the original article of Tesla Motors’ Eberhard vs Musk
RealDealDocs.com is a division of Practice Technologies, Inc. the creators of SmartRules.com. SmartRules provides step by step guides to local rules and civil procedure for state courts & federal courts throughout the country.
Popularity: 7% [?]


