Tesla shareholders are suing electric car pioneer and CEO Elon Musk for whitewashing the safety and efficiency of the autopilot function and are demanding unspecified damages for price losses in the period from February 19, 2019 to February 17, 2023.
For those four years, Tesla has made false and misleading claims that the technology, which might be responsible for multiple fatalities, “poses a serious risk of accident and injury,” the class-action lawsuit filed Monday in San Francisco federal court said . The share price fell several times following accidents in connection with the driver assistance system and recall campaigns. CFO Zachary Kirkhorn and his predecessor Deepak Ahuja are also defendants.
“As a result of the defendants’ wrongful acts and omissions and the sharp decline in the market value of the company’s common stock, the plaintiff and other members of the plaintiff class have suffered substantial loss and damage,” the complaint continued. Tesla did not immediately respond to a Archyde.com request for comment.
