Tesla, Musk sued by shareholders over self-driving safety claims | – #Tesla #Musk #sued #shareholders #selfdriving #safety #claims
Feb 27 (Reuters) – Tesla Inc ( TSLA.O ) and its chief executive Elon Musk were sued by shareholders on Monday, accusing them of overstating the effectiveness and safety of its electric cars’ Autopilot and Fully Self-Driving technologies.
Filed in San Francisco federal court offer In a class-action lawsuit filed by shareholders, they said Tesla misled them for four years with false and misleading statements, concealing that its technology “poses a risk of serious accident and injury” as a possible cause of numerous fatal crashes. .”
They said that after the truth is known, including National Car Tesla’s stock price has fallen several times since the Highway Traffic Safety Administration began investigating the technology and the Securities and Exchange Commission is investigating Musk’s Autopilot claims.
The stock also fell 5.7% on Feb. 16 after NHTSA recalled more than 362,000 Tesla vehicles equipped with Full Self-Driving beta software because they could be unsafe at intersections.
Latest UpdatesGovernment CategoryOhio residents ask judge to stop railroad from destroying crash evidence, article with gallery, AntitrustcategoryLive Nation says Taylor Swift fans can’t sue over ticket violation, image article
See 2 more stories
Tesla said it agreed with the recall, although it disagreed with NHTSA’s analysis.
As a result of the illegal actions and inaction of the defendants, the sharp decrease in the market value of the Company’s common shares, the plaintiff and other class members suffered significant losses and damages,” the complaint states.
Tesla, which does not have a media relations department, did not immediately respond to requests for comment.
Monday’s lawsuit, led by shareholder Thomas Lamontagne, seeks unspecified damages for Tesla shareholders from February 19, 2019, to February 17, 2023. Chief Financial Officer Zachary Kirkhorn and his predecessor Deepak Ahuja are also in charge.
Tesla’s stock price on Monday 10,75 dollars or 5.5% increase to 207.63 dollars closed at 0.50, but the stock has lost nearly half of its value since peaking in November 2021.
Musk, the second richest man in the world, announced the company’s artificial intelligence capabilities at Tesla’s March 1 investor day and car is expected to plan to expand its range.
The case, Lamontagne v Tesla Inc and others, USA District Court, Northern District of California, No. 23-00869.
Reporting by Jonathan Stempel in New York; Edited by Stephen Coates
Our standards: Thomson Reuters Trust Principles.
2023-02-28 02:50:27
Source – reuters
Translation“24 HOURS”