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Tesla Motors (TSLA) Subject of Another Class Action Suit

November 22, 2013 3:29 PM EST Send to a Friend
Glancy Binkow & Goldberg LLP, representing investors of Tesla Motors, Inc. (Nasdaq: TSLA), announces that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of a class comprising all purchasers of Tesla securities between May 10, 2013 and November 6, 2013, inclusive.

Tesla designs, develops, manufactures and sells electric vehicles and electric vehicle powertrain components. The Complaint alleges that during the Class Period the defendants misrepresented or failed to disclose that:

* Statements about the Model S’s highest safety rating and lack of prior fire incidents were materially misleading, due to undisclosed puncture and fire risks in its undercarriage and lithium ion battery pack.
* The Model S suffered from material defects which caused the battery pack to erupt in flames under certain driving conditions.
* Tesla’s future sales, next generation Model X introduction, and stock price were vulnerable to the inherent risk posed by the Model S’s design flaws.
* The Company was unable to maintain sufficient automobile deliveries to satisfy analyst concerns and compensate for other declining revenue streams.

If you are a member of the Class described above you may move the Court no later than January 7, 2014, to serve as lead plaintiff; however, you must meet certain legal requirements.




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