Federal Judge Dismisses Tesla Shareholders’ Lawsuit on Model 3 Production—Again [Fortune]
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Source: Fortune
Federal Judge Dismisses Tesla Shareholders' Lawsuit on Model 3 Production—Again A federal judge dismissed for the second time Monday a shareholder lawsuit against Tesla that claimed the automaker made “false and misleading” statements about its production of the Model 3 car. Charles Breyer, a U.S. District Court judge in San Francisco, dismissed a suit that was brought on behalf of investors who bought Tesla shares between May 2016 and October 2017, Reuters said lawsuit claimed Last August, Breyer The amended lawsuit said Tesla shareholders bought the stock at prices that were “artificially inflated” by allegedly misleading statements from the company. Tesla argued that it was clear about the obstacles faced in meeting its Model 3 production targets, including statements from CEO Elon Musk about the company’s “ production hell Last October, Tesla was said to be facing settled with the SEC Tesla’s stock closed down $4.11 a share, or 1.6%, at $260.42 a share Monday.
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