U.S. District Judge Charles Breyer said there's no evidence the company deceived investors about a risk of battery fires.
September 26, 2014 at 02:58 PM
1 minute read
SAN FRANCISCO — The accusations centered on electric car fires, but it was the securities suit against Tesla Motors Inc. that crashed and burned Friday in federal court.
Tesla executives didn’t cover up fire risks posed by batteries in the company’s luxury Model S cars, U.S. District Judge Charles Breyer said, dismissing the complaint without leave to amend. Nor were company statements lauding the cars’ safety false, despite three car fires reported in 2013.
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