On or around 04/12/2019 (Other)
Filing Date: October 10, 2017
According to the law firm press release, defendants throughout the Class Period allegedly made false and/or misleading statements and/or failed to disclose that: (1) contrary to defendants’ representations that Tesla was prepared for the launch of its Model 3 sedan, in reality, Tesla had severely inadequate inventory and was woefully unprepared to launch Model 3 sedan as anticipated; and (2) as a result, Tesla’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On February 2, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on March 23. Defendants filed a Motion to Dismiss the amended Complaint on May 25. On August 27, the Court issued an Order granting Defendants' Motion to Dismiss. Lead Plaintiff was given leave to file an amended Complaint, and on September 28, Lead Plaintiff filed a second amended Complaint. Defendants filed a Motion to Dismiss the second amended Complaint on November 20. On March 25, 2019, the Court issued an Order granting Defendants' Motion to Dismiss and dismissed the case with prejudice. Lead Plaintiff filed a Notice appealing the Court's Dismissal Order on April 8.
Company & Securities Information
Defendant: Tesla, Inc.
Sector: Consumer Cyclical
Industry: Auto & Truck Manufacturers
Headquarters: United States
Ticker Symbol: TSLA
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.