Tesla, Musk sued by shareholders over Robotaxi claims
The proposed class action was filed on Monday night in Austin, Texas, federal court, after Tesla's first public test of its robotaxis in late June showed them speeding, exhibiting sudden braking, driving over a curb, entering the wrong lane, and dropping passengers off in the middle of multilane roads.
Tesla's share price fell 6.1% over two trading days after the test began. Shareholders accused the electric vehicle maker of overstating the effectiveness of its autonomous driving technology, inflating its business prospects and stock price.
The lawsuit seeks unspecified damages for shareholders between April 19, 2023 and June 22, 2025.
Tesla did not immediately respond on Tuesday to a request for comment.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
18 minutes ago
- Reuters
Crypto exec Do Kwon, charged with fraud, expected to plead guilty
NEW YORK, Aug 11 (Reuters) - Do Kwon, the South Korean cryptocurrency entrepreneur facing U.S. fraud charges over two digital currencies that lost an estimated $40 billion in 2022, is expected to enter a guilty plea, court records showed on Monday.
Daily Mail
20 minutes ago
- Daily Mail
DeAndre Hopkins' mom details horrific acid attack that left her blind in new ESPN Chiefs documentary
DeAndre Hopkins' mother has recalled the horrific acid attack that left her blind in 2002. The wide receiver's mom, Sabrina Greenlee, discussed the harrowing event in the new ESPN docuseries ' The Kingdom', which provides an in-depth look at the Chiefs' dynasty (Hopkins spent most of last season in Kansas City after being traded there). Speaking in the fifth episode of the series, which the Daily Mail was able to view in advance of its August 14 release, Greenlee remembered the day 23 years ago that initially began with her realizing car was missing. Greenlee soon got a call from her boyfriend at the time, who gave her the address of a home to get the car back. From there, the pair began arguing before another woman came outside and threw what Greenlee described as a 'concoction' on her body, hitting her in her face, neck and back and leaving her with severe burns. 'The skin instantly falls off of my body,' Greenlee recalled in 'The Kingdom.' View this post on Instagram A post shared by Sabrina Greenlee (@sabrinagreenlee12) 'In that moment, I was thinking this is how I'm going to literally die.' Greenlee said she was in a coma for about a month before eventually awaking, and also had to learn how to walk again. And Hopkins, who was only 10 at the time, can still remember what it was like seeing his mom after the attack. 'The day I finally got to see my mom with my siblings, once she came from the hospital, her whole face was wrapped up,' he said in the docuseries. 'And I just remember seeing her eyes and how different they were.' Greenlee also recalled a somber moment in which she and her kids sat in bed and cried: 'We just didn't understand why somebody would wanna do that to somebody,' she recalled. 'We just really didn't wanna leave her side, I guess we felt like if we could be around her and protect her - we didn't wanna let her go,' Hopkins added. Despite being just 10 years old, Hopkins 'became the man of the house,' his mother said. 'He'd read to me, describe what's on the television. And it's like if he's not giving up, how dare I. I sat my children down and I said 'This doesn't define us.'' Of course, Hopkins has gone on to have a stellar career in football, racking up five Pro Bowls, three All-Pro selections and the second-most receiving yards in Texans' history. Last season, after being traded to the Chiefs from Tennessee, he had the chance to compete in the Super Bowl after his squad defeated the Bills in a memorable AFC Championship Game. And the moment brought Greenlee to tears for a much happier reason. 'This is so big,' she said on the field after the game. 'You understand like, with you playing in the Super Bowl, you have put so much time and work in. So many sacrifices in your playing. 'Nobody understands what that feels like, baby. I saw you [play] for two years and then I couldn't see you no more. But you kept going.' Hopkins and the Chiefs ultimately lost in the Super Bowl to the Eagles, and he departed the team this offseason for the Ravens. His connection with his mother, though, remains incredibly touching.
Reuters
20 minutes ago
- Reuters
Wall Street stocks end down, inflation data, China trade in focus
Aug 11 (Reuters) - Wall Street's main indexes ended lower on Monday as investors anxiously await inflation data this week to assess the outlook for interest rates and eye U.S.-China trade developments. Investors expect the recent shakeup at the U.S. Federal Reserve and signs of labor market weakness could nudge the central bank into adopting a dovish monetary policy stance later this year, fueling much of the optimism. July's consumer inflation report is due on Tuesday, and investors anticipate that the Fed will lower borrowing costs by about 60 basis points by December, according to data compiled by LSEG. "Markets are on rate watch, so anything inflation-related will move markets this week," said Jamie Cox, managing partner at Harris Financial Group. "It's all about three rate cuts versus two at this point." According to preliminary data, the S&P 500 (.SPX), opens new tab lost 15.13 points, or 0.24%, to end at 6,374.32 points, while the Nasdaq Composite (.IXIC), opens new tab lost 62.99 points, or 0.29%, to 21,388.60. The Dow Jones Industrial Average (.DJI), opens new tab fell 193.29 points, or 0.44%, to 43,982.32. Shares of Nvidia (NVDA.O), opens new tab and Advanced Micro Devices (AMD.O), opens new tab were volatile through the day. A U.S. official told Reuters the semiconductor majors had agreed to give the United States government 15% of revenue from sales of their advanced chips to China. Analysts said the levy could hit the chipmakers' margins and set a precedent for Washington to tax critical U.S. exports, potentially extending beyond semiconductors. Separately U.S. President Donald Trump signed an executive order extending a pause in sharply higher U.S. tariffs on Chinese imports for another 90 days, a White House official said. Enabling semiconductor sales to China was an integral issue in the agreement Washington and Beijing signed this year, which expires on Tuesday. Trump lauded China's cooperation in talks at a White House press conference on Monday. Traders took a step back after the S&P 500 (.SPX), opens new tab and the Nasdaq (.IXIC), opens new tab last week logged their strongest weekly performances in more than a month. Citigroup and UBS Global Research became the latest brokerages to raise their year-end targets for the benchmark S&P 500. Micron Technology (MU.O), opens new tab raised its forecast for fourth-quarter revenue and adjusted profit, boosting its shares. Intel (INTC.O), opens new tab rallied after a report said CEO Lip-Bu Tan was expected to visit the White House. Trump had called for his removal last week. TKO (TKO.N), opens new tab jumped after Paramount (PSKY.O), opens new tab bought the rights from the live entertainment company to exclusively distribute UFC events for the next seven years in a deal valued at around $7.7 billion.
