Sign In
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
TSLA.US
id: 591

Tesla Inc (TSLA) "Autopilot System" Case

N.D. California
Court
23-CV-00869
Case number
28 Apr 2023
Lead Plaintiff motion deadline
  • Several Tesla (TSLA) vehicle incidents have resulted in deaths.
  • The reports linked the crashes with poorly performing Tesla's (TSLA) ADAS technologies.
  • Tesla (TSLA) stock dropped over 5%, damaging investors.
  • Investors suspect Tesla (TSLA) & its CEO, Elon Mask of inappropriate forward-looking statements regarding the Autopilot system.
On February 18, 2023, media reported that a Tesla (TSLA) vehicle crashed into a fire truck that was responding to an earlier accident, killing the driver and injuring a passenger and four firefighters.

News reports linked the crash with prior reports of Tesla vehicles crashing into stationary emergency vehicles as a consequence of poorly performing ADAS technologies, increasing market and public concerns regarding the Autopilot system in Tesla’s (TSLA) vehicles.

On this news, Tesla’s stock price fell 5.25%, seriously damaging investors.

This situation was preceded by several events:
  • On February 16, 2023, media reported that NHTSA had ordered a recall of nearly 363,000 Tesla (TSLA) vehicles equipped with the Company’s FSD “Beta” software, stating that the software may allow the equipped vehicles to act “in an unlawful or unpredictable manner,” increasing the risk of a crash. On this news, Tesla’s (TSLA) stock price dropped 5.69%.
  • On January 27, 2023, media reported that the SEC was investigating statements made by Tesla (TSLA) and its CEO, Elon R. Musk, concerning the Autopilot system, including whether Musk made inappropriate forward-looking statements regarding the Autopilot system. On this news, Tesla’s (TSLA) stock price fell 6.32%.
  • On June 3, 2022, media reported that NHTSA had issued a formal inquiry to Tesla (TSLA) about the Autopilot and FSD features for certain models of its vehicles after receiving complaints from more than 750 owners of the vehicles about sudden and unexpected braking with no immediate cause. On this news, Tesla’s (TSLA) stock price fell 9.22%.
Taking all representations and appeared facts into account, Investors of Tesla (TSLA) have reasons to suspect the Company and its Leaders of misleading statements and gross negligence which injured customers and shareholders of the Company.
Alleged Offence
Mismanagement
Misleading Statements
Failure to Disclose
Malpractice
Negligence
Breach of Fiduciary duty
Omissions
Suspected Party
Directors
Management
Shareholder
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
17 February 2023
Filing date
27 February 2023
Lead Plaintiff Deadline
28 April 2023
Judge
Hon. Beth Labson Freeman
Collecting participants…

Tesla Inc

Tesla, Inc. designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in...

    Ticker
    TSLA.US
    ISIN
    US88160R1014
    CIK
    1318605
    Sector
    Consumer Cyclical
    Industry
    Auto Manufacturers
    Country
    USA
    Address
    1 Tesla Road, Austin, TX, United States, 78725