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....
To view the full article, register now.

Related

Sections

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

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.