Tesla Inc. and Chief Executive Officer Elon Musk were hit with a proposed class-action suit in federal court in Austin, Texas, accusing them of securities fraud for downplaying safety risks linked to the company’s autonomous-driving technology, including its planned Robotaxi service. The complaint, filed by shareholder Denise Morand, seeks damages on behalf of investors who traded Tesla stock between 19 April 2023 and 22 June 2025. Current Chief Financial Officer Vaibhav Taneja and his predecessor Zachary Kirkhorn are also named as defendants. Shareholders argue Tesla overstated the effectiveness of its self-driving systems, inflating the company’s valuation, even after a late-June public test in Austin showed Robotaxi prototypes speeding, braking abruptly, hitting a curb, and dropping passengers in live traffic. Tesla’s share price slid 6.1% over the two trading sessions following the test, erasing roughly US$68 billion in market capitalisation. The suit lands as Tesla intensifies efforts to deploy Robotaxi nationwide amid weakening demand for its older models and heightened regulatory scrutiny of driver-assistance software. On 1 August, a Florida jury found the automaker 33% responsible for a 2019 Autopilot-related fatal crash and awarded about US$243 million in damages, a verdict the company plans to appeal. Tesla did not immediately respond to requests for comment on the latest lawsuit.
Elon Musk and Tesla were sued by shareholders who accused them of securities fraud for concealing the significant risk that the company's self-driving vehicles, including the Robotaxi, were dangerous. https://t.co/MJbmWhKKg0
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Tesla et Elon Musk poursuivis en justice pour avoir surestimé l'efficacité des robotaxis https://t.co/IsmPd22FZN https://t.co/qa0TU2wrLN