NEW YORK, Feb. 20, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Tesla, Inc. (“Tesla” or the “Company”) TSLA. Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Tesla and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On January 27, 2023, Reuters published an article reporting that, as “part of an ongoing Securities and Exchange Commission (SEC) probe of the company’s statements about its Autopilot driver-assistance system,” “SEC officials are considering whether [Tesla Chief Executive Officer Elon] Musk may have inappropriately made forward-looking statements” about the Autopilot system.
On this news, Tesla’s stock price fell $11.24 per share, or 6.32%, to close at $166.66 per share on January 30, 2023.
Then, on February 16, 2023, the National Highway Safety Administration ordered a recall of nearly 363,000 Tesla vehicles equipped with the Company’s “Full Self-Driving Beta” software, stating that the software may allow the equipped vehicles to act “in an unlawful or unpredictable manner,” increasing the risk of a crash.
On this news, Tesla’s stock price fell $12.20 per share, or 5.69%, to close at $202.04 per share on February 16, 2023.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, London, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980