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 Exchange Commission.
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 [email protected].
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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 Musks 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 Teslas board of directors are reportedly investigating Musks 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. Based on these facts, the Companys public statements were false and materially misleading throughout the class period. When the market learned the truth about Tesla, investors suffered damages.
Join 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 litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.