Tesla and Musk Beat Shareholder Lawsuit over Self-Driving Promises

Tesla and its CEO Elon Musk have won the dismissal of a lawsuit accusing them of defrauding shareholders by overstating the effectiveness and safety of the automaker's self-driving technology in order to boost its stock price. The U.S. District Judge ruled that shareholders failed to show Tesla and Musk should be liable for falsely promising technology that would drive safer than humans. The judge also mentioned that some of Tesla's and Musk's challenged statements were not necessarily false and that Musk's

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Tesla, Musk Beat Shareholder Lawsuit over Self-Driving Promises

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Tesla, Musk Beat Shareholder Lawsuit over Self-Driving Promises

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The judge also mentioned that some of Tesla's and Musk's challenged statements were not necessarily false and that Musk's","image":"https://community-static.tradeup.com/news/1201dcc0482be040348fb8d4f228bb68","type":2,"style":4,"follow":false,"createTime":1727737520668,"userCounts":0,"rnLink":"https://laohu8.com/RN?name=RNTheme&page=/theme/special/finance&rndata={\"themeId\":f8549018e91779d2ec419350e4bf94b1}&rnconfig={\"headerBarHidden\": true}","subscribe":false,"allowFollow":false,"hasReward":false,"rewardScore":0,"rewardValidDate":0,"rewardEnd":false,"symbols":["TSLA"],"tweetCounts":1,"categoryId":"2929bb7468f5415f853fd96fb35d7c3b","options":[],"votedOptionId":"","totalUserCount":0,"followStatus":false,"themeName":"Tesla and Musk Beat Shareholder Lawsuit over Self-Driving Promises","tweetAmount":1,"imageIsDefault":true},"news":[{"id":70275,"article_id":"2472368390","title":"Tesla, Musk Beat Shareholder Lawsuit over Self-Driving Promises","subtitle":"","subtitle_show":0,"pub_time":1727762459400,"source_id":"","language":"en","url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_publish_highlight":1,"symbols_score_info":{"TSLL":1,"TSLA":1},"rights":null}],"views":[],"tweetList":[{"id":355376316878920,"gmtCreate":1727771365569,"gmtModify":1727771369783,"author":{"id":"4125545119825582","authorId":"4125545119825582","name":"HRHRHRHR","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":6,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4125545119825582","authorIdStr":"4125545119825582"},"themes":[],"htmlText":"Good luck","listText":"Good luck","text":"Good luck","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/355376316878920","repostId":"2472368390","repostType":2,"repost":{"id":"2472368390","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1727762459,"share":"https://ttm.financial/m/news/2472368390?lang=&edition=fundamental","pubTime":"2024-10-01 14:00","market":"us","language":"en","title":"Tesla, Musk Beat Shareholder Lawsuit over Self-Driving Promises","url":"https://stock-news.laohu8.com/highlight/detail?id=2472368390","media":"Reuters","summary":"(Reuters) - Tesla and its CEO Elon Musk on Monday won the dismissal of a lawsuit accusing them of defrauding shareholders by overstating the effectiveness and safety of the automaker's self-driving te","content":"<html><head></head><body><p>(Reuters) - Tesla and its CEO Elon Musk on Monday won the dismissal of a lawsuit accusing them of defrauding shareholders by overstating the effectiveness and safety of the automaker&#39;s self-driving technology in order to boost its stock price.</p><p>U.S. District Judge Araceli Martinez-Olguin in San Francisco said shareholders failed to show Tesla and Musk should be liable for falsely promising they were close to delivering technology that would drive safer than humans, but that was actually &#34;plagued with safety issues&#34; and encouraged inattentiveness.</p><p>Tesla vehicles have included &#34;Autopilot&#34; software designed to enhance self-driving capabilities, and the company has sold &#34;Full Self Driving&#34; software upgrades.</p><p>Martinez-Olguin said some of Tesla&#39;s and Musk&#39;s challenged statements were not necessarily false, while others could be excused because they addressed future expectations for the technology.</p><p>She said Musk&#39;s &#34;hands-on&#34; management did not mean he knew more than he let on, while his nearly $34 billion profit from selling Tesla shares in the February 2019 to February 2023 class period did not show he was cashing out at other shareholders&#39; expense.</p><p>Shareholders said Musk, the world&#39;s richest person, received about $39.4 billion of proceeds from those stock sales, approximately the same as Vermont&#39;s gross domestic product.</p><p>Lawyers for the shareholders did not immediately respond to requests for comment. Tesla did not immediately respond to similar requests. The judge dismissed the lawsuit without prejudice, meaning that shareholders can amend it.</p><p>Tesla still faces probes by the U.S. Department of Justice and U.S. Securities and Exchange Commission, as well as a case by the California Department of Motor Vehicles, into its self-driving claims.</p><p>The case is Lamontagne v Tesla Inc et al, U.S. District Court, Northern District of California, No. 23-00869.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla, Musk Beat Shareholder Lawsuit over Self-Driving Promises</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla, Musk Beat Shareholder Lawsuit over Self-Driving Promises\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2024-10-01 14:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>(Reuters) - Tesla and its CEO Elon Musk on Monday won the dismissal of a lawsuit accusing them of defrauding shareholders by overstating the effectiveness and safety of the automaker&#39;s self-driving technology in order to boost its stock price.</p><p>U.S. District Judge Araceli Martinez-Olguin in San Francisco said shareholders failed to show Tesla and Musk should be liable for falsely promising they were close to delivering technology that would drive safer than humans, but that was actually &#34;plagued with safety issues&#34; and encouraged inattentiveness.</p><p>Tesla vehicles have included &#34;Autopilot&#34; software designed to enhance self-driving capabilities, and the company has sold &#34;Full Self Driving&#34; software upgrades.</p><p>Martinez-Olguin said some of Tesla&#39;s and Musk&#39;s challenged statements were not necessarily false, while others could be excused because they addressed future expectations for the technology.</p><p>She said Musk&#39;s &#34;hands-on&#34; management did not mean he knew more than he let on, while his nearly $34 billion profit from selling Tesla shares in the February 2019 to February 2023 class period did not show he was cashing out at other shareholders&#39; expense.</p><p>Shareholders said Musk, the world&#39;s richest person, received about $39.4 billion of proceeds from those stock sales, approximately the same as Vermont&#39;s gross domestic product.</p><p>Lawyers for the shareholders did not immediately respond to requests for comment. Tesla did not immediately respond to similar requests. The judge dismissed the lawsuit without prejudice, meaning that shareholders can amend it.</p><p>Tesla still faces probes by the U.S. Department of Justice and U.S. Securities and Exchange Commission, as well as a case by the California Department of Motor Vehicles, into its self-driving claims.</p><p>The case is Lamontagne v Tesla Inc et al, U.S. District Court, Northern District of California, No. 23-00869.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU2213496289.HKD":"ALLIANZ INCOME AND GROWTH \"AT\" (HKD) ACC","TSLL":"Direxion Daily TSLA Bull 2X Shares","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","BK4527":"明星科技股","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU0056508442.USD":"贝莱德世界科技基金A2","BK4592":"伊斯兰概念","LU0964807845.USD":"ALLIANZ INCOME & GROWTH \"A\" (USD) INC","LU0234572021.USD":"高盛美国核心股票组合Acc","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","TSLA":"特斯拉","BK4585":"ETF&股票定投概念","BK4551":"寇图资本持仓","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","LU2063271972.USD":"富兰克林创新领域基金","BK4099":"汽车制造商","BK4550":"红杉资本持仓","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","LU1145028129.USD":"ALLIANZ INCOME AND GROWTH \"AQ\" (USD) INC","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","SG9999015978.USD":"利安颠覆性创新基金A","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU1861215975.USD":"贝莱德新一代科技基金 A2","BK4588":"碎股","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU1548497426.USD":"安联环球人工智能AT Acc","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","BK4574":"无人驾驶","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","BK4581":"高盛持仓","LU1629891620.HKD":"ALLIANZ INCOME AND GROWTH \"AMG2\" (H2-HKD) INC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU0234570918.USD":"高盛全球核心股票组合Acc Close","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC"},"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2472368390","content_text":"(Reuters) - Tesla and its CEO Elon Musk on Monday won the dismissal of a lawsuit accusing them of defrauding shareholders by overstating the effectiveness and safety of the automaker's self-driving technology in order to boost its stock price.U.S. District Judge Araceli Martinez-Olguin in San Francisco said shareholders failed to show Tesla and Musk should be liable for falsely promising they were close to delivering technology that would drive safer than humans, but that was actually \"plagued with safety issues\" and encouraged inattentiveness.Tesla vehicles have included \"Autopilot\" software designed to enhance self-driving capabilities, and the company has sold \"Full Self Driving\" software upgrades.Martinez-Olguin said some of Tesla's and Musk's challenged statements were not necessarily false, while others could be excused because they addressed future expectations for the technology.She said Musk's \"hands-on\" management did not mean he knew more than he let on, while his nearly $34 billion profit from selling Tesla shares in the February 2019 to February 2023 class period did not show he was cashing out at other shareholders' expense.Shareholders said Musk, the world's richest person, received about $39.4 billion of proceeds from those stock sales, approximately the same as Vermont's gross domestic product.Lawyers for the shareholders did not immediately respond to requests for comment. Tesla did not immediately respond to similar requests. The judge dismissed the lawsuit without prejudice, meaning that shareholders can amend it.Tesla still faces probes by the U.S. Department of Justice and U.S. Securities and Exchange Commission, as well as a case by the California Department of Motor Vehicles, into its self-driving claims.The case is Lamontagne v Tesla Inc et al, U.S. District Court, Northern District of California, No. 23-00869.","news_type":1},"isVote":1,"tweetType":1,"viewCount":80,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}]}