TSLA agrees to resolve a four-year-old trade secrets lawsuit with RIVN, provided that Rivian satisfies the settlement terms.

The lawsuit originally accused Rivian of actively encouraging former Tesla employees to steal confidential information

Rivian Automotive Inc (NASDAQ:RIVN) shares jumped 13% after Tesla (NASDAQ:TSLA) announced it had reached a "conditional" settlement in its 2020 lawsuit accusing Rivian of employee poaching and theft of electric-vehicle

The lawsuit between two U.S. electric automakers, Tesla and Rivian, is nearing an end. Tesla alleges that Rivian poached Tesla employees to steal company secrets that would give them "a huge competitive advantage.

Tesla didn’t disclose specifics, but told a California state judge that it expects to seek dismissal of the case by Dec. 24 upon satisfactory completion of the terms.

Tesla and Rivian may have resolved a lawsuit in which Tesla accused Rivian of poaching employees and stealing trade secrets. Bloomberg reports that Tesla

The case started in 2020 when Tesla claimed Rivian hired ex-employees with sensitive documents. The terms of the settlement are undisclosed.

Tesla and Rivian have been embroiled in a lawsuit in which the former accused the latter of having stolen battery technology by poaching Tesla employees. It sounds like the two automakers are finally about to settle the lawsuit, which has been going on for 4 years.

Tesla, the electric vehicle (EV) company led by Elon Musk, announced on Saturday that it has resolved its lawsuit against competitor Rivian.

Tesla and Rivian have settled a four-year lawsuit over alleged trade secret theft, with a dismissal likely by December 24.