(Reuters) – A federal judge in San Francisco dismissed a securities fraud lawsuit in which Tesla Inc (TSLA.O) shareholders accused the electric car company and Chief Executive Elon Musk of misleading them about the progress of production of its Model 3 vehicle.
District Judge Charles Breyer said that while shareholders claimed that Tesla fell short of its production goals, “federal securities laws do not punish companies for failing to achieve their targets.”
The case is separate from lawsuits accusing Tesla and Musk of scheming to hurt short-sellers through Musk’s Aug. 7 tweets about taking the Palo Alto, California-based company private, and that funding had been “secured.” REUTERS/Mike Blake/File Photo
Not surprised that Musk is involved in securities fraud.
Good short article by Altrumedia that packs a punch.
I wish ALN were represented as a news source instead of a web marketer, and wonder what the e-letters are.