We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

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




Case Information

Case Title

Wochos v. Tesla, Inc. et al

Case Number



California Northern

Nature of Suit



Charles R. Breyer

Date Filed

October 10, 2017

Law Firms

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.