Tesla Hit With Stock-Drop Suit Over Production Delays

Law360, New York (October 11, 2017, 6:30 PM EDT) -- Tesla Inc. did not disclose information about production delays for its Model 3 sedan, resulting in a 4 percent drop in its stock, an investor claimed in a putative class suit filed in California federal court Tuesday.

Tesla investor Gregory Wochos said that Tesla and its executives, including Elon Musk, violated the Securities Exchange Act of 1934 when they failed to disclose the manufacturing issues to investors.

"Contrary to defendants' representations that the company was prepared for the launch of its Model 3 sedan, in reality,...
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Case Information

Case Title

Wochos v. Tesla, Inc. et al


Case Number

3:17-cv-05828

Court

California Northern

Nature of Suit

Securities/Commodities

Judge

Charles R. Breyer

Date Filed

October 10, 2017

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