Tesla shareholders filed a proposed class action lawsuit against the company and CEO Elon Musk, alleging insufficient disclosure of issues with its robotaxi service and overstated effectiveness of its autonomous driving technology. The lawsuit cites problems observed during a June 22 test, where vehicles drove unsafely, such as moving in the wrong lane and exceeding speed limits. Following these incidents and an ongoing National Highway Traffic Safety Administration investigation, Tesla's stock fell by 6.05%. The lawsuit also references a significant jury verdict that found Tesla liable in a fatal crash involving its 'Autopilot' feature, highlighting the risks associated with its autonomous driving capabilities.
Tesla shareholders are suing the company, claiming misrepresentation regarding its robotaxi service and autonomous driving technology, alleging that investors were misled about safety risks.
The lawsuit points to problems during the June 22 robotaxi test, where vehicles were shown driving in the wrong lane, speeding, and failing to park correctly.
The National Highway Traffic Safety Administration is investigating the irregularities in the test videos which reportedly caused Tesla's stock price to drop by 6.05% over two days.
Shareholders reference a recent jury verdict that awarded $329 million in damages for a deadly crash linked to Tesla's 'Autopilot' mode, further raising questions about their product safety.
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