Teslas' shareholders have initiated a lawsuit against Elon Musk and the company, claiming securities fraud due to the concealment of the risks tied to self-driving vehicles. The suit follows a public test revealing unsafe behavior from Tesla's autonomous taxis, including erratic driving maneuvers. Following this incident, Tesla's share price dropped by 6.1%, erasing approximately $68 billion in market value. Shareholders allege that Musk overstated the efficiency and future of the autonomous driving technology, thereby inflating both the company's financial outlook and stock valuation.
Tesla shareholders have filed a lawsuit against Elon Musk, alleging that the company concealed significant risks associated with its self-driving vehicles, constituting securities fraud.
The lawsuit arose following a public test of Tesla's self-driving taxis, which displayed dangerous behavior such as speeding and erratic driving.
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