LOS ANGELES–(BUSINESS WIRE)–$TSLA #ClassAction—The
Schall Law Firm, a national shareholder rights litigation firm,
announces the filing of a class action lawsuit against Tesla, Inc.
(“Tesla” or “the Company”) (NASDAQ: TSLA)
for violations of §§10(b) and 20(a) of the Securities Exchange Act of
1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and
Investors who purchased the Company’s shares between August 7, 2018, and
August 17, 2018, inclusive (the “Class Period”), and/or who had open
short positions or put options for Tesla as of August 7, 2018 or August
8, 2018, are encouraged to contact the firm before October 9, 2018.
If you are a shareholder who suffered a loss, click
here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of
the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA
90067, at 424-303-1964, to discuss your rights free of charge. You can
also reach us through the firm’s website at www.schallfirm.com,
or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until
certification occurs, you are not represented by an attorney. If you
choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading
statements to the market. Tesla CEO Elon Musk tweeted on August 7, 2018,
“Am considering taking Tesla private at $420,” and “funding secured.”
The lawsuit alleges that despite Musk’s tweets, no funding had been
secured to take Tesla private at $420 per share. Musk also falsely
claimed that “investor support is confirmed.” Both the SEC and Tesla’s
board of directors are reportedly investigating Musk’s tweets on the
matter. On September 27, Elon Musk was sued by the SEC for his tweets.
The SEC alleges that Musk has no intention of taking the company
private. Elon Musk has settled with the SEC, agreeing to step down as
Chairman of the Board, and pay a fine. Based on these facts, the
Company’s public statements were false and materially misleading
throughout the class period. When the market learned the truth about
Tesla, investors suffered damages.
the case to recover your losses.
The Schall Law Firm represents investors around the world and
specializes in securities class action lawsuits and shareholder rights
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and rules of ethics.