William_Potter
Faraday Future Intelligent Electric (NASDAQ:FFIE) announced on Tuesday that the company filed a lawsuit against former top executive Ding Lei for infringement of trade secrets and unfair competition.
In the lawsuit, the company requests monetary damages and further requests that the court order Lei’s firm Human Horizons to immediately cease infringing on the Company’s trade secrets relating to the FF 91. Faraday Future (FFIE) is seeking the court to order Human Horizons to cease using the trade secrets involved in the case to design, develop, produce and sell alleged infringing products, as well as stop selling the alleged infringing products or use the trade secrets involved in the case to provide after-sales service for the infringing products, and to immediately cease alleged unfair competition acts.
At one time, Ding Lei was seen as Faraday’s (FFIE) second most prominent spokesperson after found Jia Yueting.
Shares of Faraday Future are down more than 70% on a year-to-date basis.
