Mexican Media Brands
Judge Dismisses Shareholder Lawsuit Over Tesla Production
A lawsuit claiming Tesla Inc. misled shareholders about its Model 3 production levels has been dismissed by a U.S. District Court judge in San Francisco.
#legal
Share
A lawsuit claiming Tesla Inc. misled shareholders about its Model 3 production levels has been dismissed by a U.S. District Court judge in San Francisco.
Filed in 2017, the lawsuit claimed that Tesla inflated the price of its stock by making overly optimistic statements about expected production of the car. In fact, the company spent months overcoming various manufacturing glitches as it slowly ramped up output.
Judge Charles Breyer agreed with Tesla’s position, that it issued repeated warnings about Model 3 output problems, including CEO Elon Musk’s declaration at one point that the company was going through “production hell” with the car.RELATED CONTENT
-
Report: Ghosn Kept List of Hidden Compensation
Japanese prosecutors have found a list apparently created by former Nissan Motor Co. Chairman Carlos Ghosn that charts compensation the company didn’t report but he expected to receive, The Nikkei says.
-
Four Auto Companies Rank Among the World's Most Ethical
GM and Cooper Standard make the list for the first time, joining long-running honorees Aptiv and Cummins
-
China Prepares to Sanction U.S. Carmaker for Price Fixing
China is preparing to fine an undisclosed U.S. carmaker for ordering its distributors to fix prices beginning in 2014, according to China Daily. Media reports say General Motors Co. is the target.