Tesla Shareholders Must Nail Down False Claims, Judge Says

Law360, San Francisco (February 14, 2014, 7:29 PM EST) -- A California federal judge on Friday allowed shareholders in Tesla Motors Inc. to update their class allegations that Tesla caused a $6.5 billion market loss by making false statements about its electric cars' safety, but ordered them to provide evidence showing the statements were untrue.

U.S. District Court Judge Charles Breyer told the plaintiffs Thursday that they need to get down to the nitty gritty on which statements from Tesla and its executives were to blame, including any legally required disclosures they may have omitted....
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Case Information

Case Title

In Re Tesla Motors, Inc. Securities Litigation


Case Number

3:13-cv-05216

Court

California Northern

Nature of Suit

Securities/Commodities

Judge

Charles R. Breyer

Date Filed

November 8, 2013


Case Title

Magnisalias v. Tesla Motors, Inc et al


Case Number

3:13-cv-05438

Court

California Northern

Nature of Suit

Securities/Commodities

Judge

Charles R. Breyer

Date Filed

November 22, 2013

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