Tesla Inc (TSLA) Sues Ex-Employee Over Software Hack

Tesla Inc (NASDAQ:TSLA) is suing a former employee, Martin Tripp, for allegedly stealing MOS factory software and transferring massive amounts of data to outside sources.

Tripp denies the charges, which could land him in jail if found guilty. So, what is MOS software, anyway? CNBC has the answer:

First, this is not software that’s installed in Tesla’s vehicles. If anyone modified MOS code, they were not changing the code embedded on chips in Tesla’s cars.

Rather, Tesla built its MOS software to automate factory processes for assembling the Model 3, its newest vehicle. In general, MOS is used to track where a Model 3 is in the process of manufacturing, repairs and testing.

It’s important to note that the software in question has nothing to do with Tesla’s vehicles themselves. Instead, it’s factor software used to manufacture the cars — not operate the cars’ systems or self-driving capabilities.

Tesla Inc shares closed at $333.63 on Friday, down $13.88 (-3.99%). Year-to-date, TSLA has gained 7.16%, versus a 3.83% rise in the benchmark S&P 500 index during the same period.

TSLA currently has a StockNews.com POWR Rating of B (Buy), and is ranked #6 of 24 stocks in the Auto & Vehicle Manufacturers category.