Tesla(US:TSLA) Prnewswire·2025-08-06 22:40Core Viewpoint - A class action lawsuit has been filed against Tesla, Inc. and certain officers for alleged violations of federal securities laws during the Class Period from April 19, 2023, to June 22, 2025, seeking damages for misleading statements regarding the company's business and operations [1][3]. Group 1: Lawsuit Details - The lawsuit is filed in the United States District Court for the Western District of Texas, representing all individuals and entities that purchased Tesla securities during the Class Period [1]. - Investors have until October 4, 2025, to request to be appointed as Lead Plaintiff for the class [2]. Group 2: Company Operations - Tesla designs, develops, manufactures, and sells electric vehicles and autonomous driving vehicles, along with energy generation and storage systems [3]. - The company has introduced advanced driver assist systems under the Autopilot and Full Self-Driving options, which are claimed to perform driving maneuvers under active supervision [3]. Group 3: Allegations Against Tesla - The Complaint alleges that Tesla overstated the effectiveness of its autonomous driving technology and failed to disclose significant risks associated with its autonomous vehicles, including the Robotaxi [3]. - It is claimed that these misleading statements increased the likelihood of heightened regulatory scrutiny and overstated the company's business and financial prospects [3]. Group 4: Recent Events and Impact - Tesla launched its Robotaxi service on June 22, 2025, but reports emerged of the vehicles violating traffic laws, leading to scrutiny from the U.S. National Highway Traffic Safety Administration (NHTSA) [4][5]. - Following these incidents, Tesla's stock price fell by $21.13 per share, or 6.05%, closing at $327.55 on June 25, 2025 [6]. - A jury later determined that Tesla was partly liable for a fatal 2019 Autopilot crash, resulting in a damages award of $329 million [6].