Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
TSP.US
id: 131, Created by , Scout
What do I get by joining?
- You will get case updates and receive a payout in case of success
- If you would like to actively participate, you will be connected to the attorney
- No, you do not pay anything out of your pocket neither to us nor to attorney
S.D. California
CourtOn 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