Ninth Circuit affirmed lower court ruling that projections made by Tesla's leaders turned out to be inaccurate but what they weren't was unlawful, thanks to safe harbor provisions.
January 26, 2021 at 05:33 PM
1 minute read
Elon Musk’s bold statements about producing 5,000 Model 3s per week for 2017 were flat wrong, but an appeals court finds his comments were nonetheless protected under the law.
A federal appellate court has upheld a district court’s dismissal of a securities fraud class action that accused Tesla Inc. and two managers, including CEO Elon Musk of trying to dupe investors about the production capacity of Tesla’s Model 3.
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Tesla model 3. Photo: canadianPhotographer56/Shutterstock.com
