Tesla(US:TSLA) GlobeNewswire News Room·2025-08-13 14:03Core 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][4]. Group 1: Lawsuit Details - The lawsuit is filed in the United States District Court for the Western District of Texas, seeking to recover damages for all persons and entities that purchased Tesla securities during the Class Period [1]. - Investors have until October 4, 2025, to request appointment as Lead Plaintiff for the class [2]. Group 2: Company Operations and Claims - Tesla designs, develops, manufactures, and sells electric vehicles and autonomous driving vehicles, along with energy generation and storage systems [4]. - The company has promoted its Robotaxi service as a fully autonomous ride-hailing network, claiming advancements in artificial intelligence differentiate it from competitors [4]. 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 potential violations of traffic laws [4]. - The lawsuit claims that these misleading statements inflated Tesla's business and financial prospects, leading to material misrepresentation [4]. Group 4: Recent Events Impacting Tesla - Tesla launched its Robotaxi service on June 22, 2025, but reports surfaced of the vehicles violating traffic laws, leading to scrutiny from the U.S. National Highway Traffic Safety Administration (NHTSA) [5][6]. - Following these incidents, Tesla's stock price fell by $21.13 per share, or 6.05%, closing at $327.55 on June 25, 2025 [7]. - A jury later found Tesla partly liable for a fatal 2019 Autopilot crash, ordering the company to pay $329 million in damages [8].