| Company: | Tesla Motors Inc, |
| Ticker Symbol: | TSLA |
| Class Period: | May-10-13 to Nov-6-13 |
| Date Filed: | Dec-13-13 |
| Lead Plaintiff Deadline: | Feb-11-14 |
| Court: | Northern District of California |
| Allegations: | |
Tesla designs, develops, manufactures and sells electric vehicles and electric vehicle powertrain components. California-based Tesla designs and manufactures EVs, as well as EV powertrain components for industry partners. Tesla has delivered over 15,000 electric vehicles to customers in 31 countries.
The Complaint alleges that during the Class Period the defendants misrepresented or failed to disclose that:
Statements about the Model S' highest safety rating and lack of prior fire incidents were materially misleading, due to undisclosed puncture and fire risks in its undercarriage and lithium ion battery pack.
The Model S suffered from material defects which caused the battery pack to erupt in flames under certain driving conditions.
Tesla' future sales, next generation Model X introduction, and stock price were vulnerable to the inherent risk posed by the Model S' design flaws.
The Company was unable to maintain sufficient automobile deliveries to satisfy analyst concerns and compensate for other declining revenue streams.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
