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Former Lordstown CEO Given Permission to Buy Back Company Assets for $10 Million

The Truth About Cars

Bankruptcy Court to sell its remaining manufacturing assets to a company owned by its founder and former CEO Stephen Burns for roughly $10 million. Burns eventually sold off his remaining equity in the company. that inflated Lordstown Motors’ valuation in October 2020, Burns owned about 25 percent of the company stock.

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Elon Musk’s legal team: Twitter ordered whistleblower to destroy evidence

Teslarati

Elon Musk’s legal team threw some allegations against Twitter in a recent filing, with the Tesla CEO’s camp alleging that the social media company had ordered whistleblower Peiter “Mudge” Zatko, its former head of security, to destroy evidence as part of his severance package. per share. .

Legal 119
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Tesla Model Y taxi service might be required to buy gas cars before it can deploy EV fleet

Teslarati

Revel, a startup that unveiled its plans to launch a Tesla Model Y-based rideshare service in New York back in April, recently met a rather bizarre roadblock — one that could result in the company actually buying 50 gas cars before it could deploy its EV fleet. Do you have anything to share with the Teslarati Team?

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Mercedes-Benz receives world’s first internationally valid system approval for Level 3 conditionally automated driving

Green Car Congress

Mercedes-Benz is the first automotive company to meet the demanding legal requirements of UN-R157 for a Level 3 system for conditionally automated driving. —Markus Schäfer, Member of the Board of Management of Daimler AG and Mercedes-Benz AG, Chief Technology Officer responsible for Development and Purchasing.

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Twitter locks employee stock accounts amid Elon Musk buyout expectations

Teslarati

Days before the deadline to finalize the company’s deal with Elon Musk, Twitter Inc. The move suggests that the social media company is hopeful the deal with the Tesla CEO will be finalized. As noted in a Bloomberg News report, the social media company updated its employee FAQ page this week.

Legal 65
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Elon Musk willing to finish Twitter buyout under original terms — under one condition

Teslarati

The social media company just has to provide its method of sampling accounts and how they’re confirmed to be real. Musk and Twitter are currently engaged in what is shaping up to be a bitter legal battle. The Tesla CEO had offered to purchase Twitter for $54.20 Twitter, for its part, has not issued a response to Musk’s musings.

Legal 98
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Tesla sues man for $650k in defamation lawsuit after he won $150k from automaker

Teslarati

American electric car company Tesla has decided to sue a Chinese man for $650,000, claiming defamation following his victory against the automaker in a separate lawsuit, where he won $155,000. Han Chao has posted images of legal documents that indicate Tesla is suing him for 5.05 million yuan, or around $650,000 for defamation.

Tesla 119