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TSP.US
id: 131
S.D. California
Court
On April 6, 2022, one of TuSimple’s autonomously driven truck got out of control and had a serious accident.
The Federal Motor Carrier Safety Administration has launched a “safety compliance investigation” into TuSimple.
Back in April 2021, TuSimple successfully completed its initial public offering, selling approximately 33.78 million shares at $40.00 per share.
According to IPO documentation, TuSimple listed safety as the first key advantage of its AFT solution design, although doubts existed regarding TuSimple’s ability to overcome both the technological and regulatory issues the company was facing.
The Wall Street Journal article published on August 1, 2022, entitled “Self-Driving Truck Accident Draws Attention to Safety at TuSimple: Leading autonomous-truck developer blames human error, while analysts say it is the technology; regulators are investigating” has drawn attention to the safety issues in TuSimple’s technology.
The situation may indicate that TuSimple provided inaccurate information to the investing public in preparation for the IPO.
In the meantime, IPO investors have lost over 75% of their investments, with the stock trading in $6-$10 range since May 2022.
Alleged Offence
Misleading Statements
Failure to Disclose
Negligence
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
06 April 2022
Collecting participants…

Tusimple Holdings Inc

TuSimple Holdings Inc., an autonomous technology company, develops autonomous technology specifically designed for semi-trucks in the United States and Asia-Pacific region. It intends to produce a ...

    Ticker
    TSP.US
    ISIN
    US90089L1089
    CIK
    1823593
    Sector
    Industrials
    Industry
    Trucking
    Country
    USA
    Address
    9191 Towne Centre Drive, San Diego, CA, United States, 92122