PALO ALTO — After three of its vehicles burst into flames in recent months, Tesla Motors Inc. is now under fire for allegedly misleading investors about its sedans’ safety.
Plaintiffs lawyers from Glancy Binkow & Goldberg and Bronstein, Gewirtz & Grossman filed a 40-page securities class action in the Northern District of California Friday. The suit, on behalf of named plaintiff Robert Rahimi, seeks to recoup losses sustained over the stock’s precipitous fall—down nearly 30 percent in six weeks, a loss of more than $6.5 billion in market capitalization.
