NEW YORK, Sept. 28, 2018 — Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, reminds investors of the important October 9, 2018 lead plaintiff deadline in the shareholder class action lawsuit against Tesla, Inc. (“Tesla” or the “Company”) (NASDAQ: TSLA). The lawsuit seeks to recover damages on behalf of those who purchased the securities of Tesla between August 7, 2018 and August 14, 2018, both dates inclusive (the “Class Period”).
If you purchased Tesla securities, and/or would like to discuss your legal rights and options, please visit Tesla Shareholder Class Action Lawsuit or contact Daniel Sadeh toll free at (877) 779-1414 or [email protected].
According to the lawsuit, throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Tesla had not secured funding for the Company’s proposed “going-private transaction”; (2) the proposed “going-private transaction” required the approval of Tesla’s Board of Directors, not just Tesla’s shareholders; (3) Tesla’s Board of Directors were unaware whether Tesla secured funding for the proposed transaction; (4) the status and likelihood of the proposed “going-private transaction” was misrepresented to the market because the financing for the proposed transaction had not been secured and because the transaction required the approval of both Tesla’s Board of Directors and shareholders; and (5) as a result of the foregoing, Defendants’ statements about Tesla’s business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.
On September 27, 2018, during aftermarket hours, the Securities and Exchange Commission issued a press release stating that it “charged Elon Musk, CEO and Chairman of Silicon Valley-based Tesla Inc., with securities fraud for a series of false and misleading tweets about a potential transaction to take Tesla private.”
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On this news, Tesla’s stock fell sharply during intra-day trading on September 28, 2018, damaging investors.
If you purchased Tesla securities, and/or would like to discuss your legal rights and options, please visit https://www.bernlieb.com/cases/tesla-inc-tsla-lawsuit-class-action-fraud-stock-77/ or contact Daniel Sadeh toll free at (877) 779-1414 or [email protected].
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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