Sued by Tesla shareholders – again – Dagsavisen

Sued by Tesla shareholders – again – Dagsavisen

In January, Elon Musk went to court over a tweet he wrote in 2018.

Shareholders were outraged by his claim that he had the financing to buy the electric car maker he drives and take the company public. Many investors joined the rally that followed Tesla shares, but lost their money when the purchase did not materialize and the stock fell again.

“Just because I tweet something doesn’t mean people believe it or act on it,” Musk told the jury in federal court in San Francisco.

Now, shareholders are outraged again, after it was revealed that Musk had exaggerated Tesla’s self-driving technology.

362,000 vehicles have been recalled

In a class action lawsuit filed in San Francisco federal court, shareholders say Tesla defrauded them over four years with false and misleading statements, reports include CNN And Watchman.

This technology is said to have concealed that the technology used, which is suspected to have caused several fatal accidents, “created a serious risk of accident and personal injury,” according to the lawsuit.

In February of this year, the company recalled more than 362,000 cars with self-driving systems because there was a risk they might break down, reportedly. CNBC.

Then the share price fell by 5.7 percent.

– As a result of the omissions and wrongful actions of the defendant, and the sharp decline in the market value of the company’s shares, the plaintiff and others suffered great losses and damages, the shareholders write in the suit.

Hanisi Anenih

Hanisi Anenih

"Web specialist. Lifelong zombie maven. Coffee ninja. Hipster-friendly analyst."

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