Tesla, Elon Musk win dismissal of lawsuit over Model 3 production [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
Tesla, Elon Musk win dismissal of lawsuit over Model 3 production A federal judge in San Francisco dismissed for the second time a securities fraud lawsuit brought by Tesla Inc shareholders alleging that the company made misleading comments about the production status of its Model 3. U.S. District Judge Charles Breyer sided with Tesla, granting the electric vehicle company dismissal of the lawsuit brought in October 217. Breyer dismissed the original lawsuit in August but allowed plaintiffs to file an amended one. The lawsuit sought class action status for shareholders who bought Tesla stock between May 3, 216 through Nov. 1, 217. Story continues below advertisement It said shareholders bought “artificially inflated” shares because Musk and other executives misled them with bullish statements about the production ramp of the Model 3, failing to disclose that the company was “woefully unprepared” for the vehicle’s production. Tesla argued in its defence that it had been forthcoming abo
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