Musk's Tesla wins lawsuit

by Automotive | 28-08-2018 | 4032 views

A US judge has dismissed the shareholders' lawsuit against Elon Musk-led Tesla accusing the carmaker of misleading Model 3 vehicle's production targets. It was ruled that while Tesla failed to achieve production goals, "Federal securities laws do not punish companies for failing to achieve their targets." Further, the plaintiffs have been given till September 28 to amend their complaint. The case is separate from lawsuits accusing Tesla and Musk of scheming to hurt short-sellers through Musk’s Aug. 7 tweets about taking the Palo Alto, California-based company private, and that funding had been “secured.”

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