At the center of the lawsuit were allegations that the company and its CEO overstated the effectiveness and safety of the automaker’s self-driving technology, thereby manipulating the stock price. However, the judge ruled that the plaintiffs failed to prove their allegations.
According to Judge Martinez-Olguin, the disputed statements of Tesla and Musk were partly not necessarily false, and partly could be interpreted as expectations for future technological developments. The judge also noted that Musk’s significant share sales alone do not prove that he acted to the detriment of other shareholders.
Despite the dismissal of the suit, Tesla still faces investigations from the US Department of Justice, the Securities and Exchange Commission and the California Department of Motor Vehicles over claims related to its self-driving technology.
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Source: www.portfolio.hu
