A group of shareholders has filed a lawsuit against Tesla and its executives, including CEO Elon Musk, accusing them of fraud for falsifying data regarding the autonomous driving technology used in the company’s ‘robotaxis’.
The law firm Pomerantz announced that it filed a class action on Monday night in Texas, where Tesla is headquartered, against the automaker and Musk for damages caused to shareholders.
The lawsuit claims that “the defendants made materially false and misleading statements about the company’s business, operations, and future prospects,” specifically exaggerating “the safety and development status of its autonomous driving technology” for the robotaxis.
Pomerantz alleges that the robotaxis have “significant safety defects that may put passengers and the public at risk” and that when incidents involving the vehicles became public following the launch of the robotaxi service in Austin, “Tesla’s stock price fell dramatically, harming investors.”
After years of delay, Tesla launched a limited robotaxi testing service in Austin at the end of June, and a series of incidents involving the vehicles became public immediately, leading the company to withdraw.
Documented incidents include cases of vehicles exceeding speed limits or driving in the wrong direction.
