Tesla Receives Monetary Settlement in Lawsuit Against Self-Driving Start-Up Zoox

In these challenging economic times, Tesla (NASDAQ: TSLA) will soon be adding an unknown amount of cash to its reserves after resolving a legal dispute. The electric-vehicle maker and Zoox, a self-driving-car start-up, announced yesterday that they've reached a settlement regarding Tesla's March 2019 lawsuit, according to which Tesla will receive an undisclosed monetary payment. Additionally, Zoox has agreed to conduct an internal audit to confirm that former Tesla employees are adhering to confidentiality agreements.

The settlement stems from a March 2019 lawsuit in which Tesla alleged that Zoox and former Tesla employees who went to work for Zoox, in part, tried to "steal Tesla's proprietary information and trade secrets to help Zoox leapfrog past years of work needed to develop and run its own warehousing, logistics, and inventory control operations."

Image source: Getty Images.

Source Fool.com