31 C
Agartala
Friday, June 21, 2024

Tesla shareholders sue company over claims about self-driving car safety – Filing

Date:

Tesla’s shareholders are suing the electric car manufacturer over allegations that the company misled the public about the safety and efficacy of their self-driving vehicles, according to a class action complaint filed in the US District Court for the Northern District of California.

In 2014, Tesla announced an autopilot feature that included a number of advanced driver-assistance systems. Since then, the company has announced refinements to the technology, including so-called full self driving (FSD) software, which enables the vehicle to drive autonomously to a destination.

“[Tesla] made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically,” the filing said on Monday. ” Defendants had significantly overstated the efficacy, viability, and safety of the Company’s Autopilot and FSD technologies.”

Tesla CEO Elon Musk, who also heads the social media platform Twitter, is named as a defendant in the lawsuit as well.

Tesla’s Autopilot and FSD features created a serious risk of accident and injury, increased regulatory scrutiny and reputational harms, the lawsuit alleges. The filing cites instances of crashes involving Teslas and subsequent stock price drops.

Earlier this month, the US National Highway Traffic Safety Administration ordered a recall of nearly 363,000 Teslas over concerns that their FSD software may enable the vehicles to act in an “unlawful or unpredictable” manner. Tesla’s stock fell 5.69% in response.

The Plaintiffs believe that there are hundreds or thousands of members eligible to participate in the class action lawsuit, the filing said.

The filing requests the court require the defendants to pay damages and award plaintiffs prejudgment and post-judgment interest, attorneys’ fees and other costs. The Plaintiffs are also requesting a trial by jury, the filing said.

Share post:

Subscribe

Adspot_imgspot_img

Popular

More like this
Related

CM orders action after 15 girl students fall ill : Warden, caretaker terminated, issued show cause

 BY TC News Desk Agartala, 20th July 2024:  Following an...

Transport Minister demands more flights, trains from Agartala, Dhaka, Chittagong

 BY TC News Desk Agartala, 20th July 2024:   : Transport...

20 School Girls Hospitalized After Consuming Hostel Meal

BY TC News Desk Agartala, 20th June 2024:   In a...

NFR to resume the Garib Rath Express in state from July

BY TC News Desk Agartala, 20th June 2024:         Northeast...