Tesla ex CEO is dropping the suit against the present Tesla Motors CEO

Posted on Sunday, 23 August 2009 , 15:08:52 byEmil

Filed under judgeeberhardsuitcourtrulingevcaliforniamuskpalo-altoTeslaHybrid

Tesla ex CEO is dropping the suit against the present Tesla Motors CEO

The ex Tesla Motors CEO, Martin Eberhard dropped the lawsuit against Elon Musk - present CEO and Tesla. The suit was initiated in California Superior Court, on May 26 claiming owed wages and defamation.

Business Journal reports Eberhard dropped the suit formally on 7th of August, right after the case was ruled active. Tesla requested previously that this case be dismissed. Eberhard was looking for damages for libel, slander and contract breach.

Neither Tesla nor Eberhard commented on these new proceedings, but it's believed strongly that the 2 sides reached an outside court settlement.

The dropped case news is a positive sign for Tesla and the EV maker's future. Tesla had profitability finally earlier current month and just announced a brand new global headquarters and R&D center in California, in Palo Alto.