NEW ORLEANS, Aug. 24, 2018 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until October 9, 2018 to file lead plaintiff applications in a securities class action lawsuit against Tesla, Inc. (NasdaqGS: TSLA), if they purchased the Company’s securities between August 7, 2018 and August 14, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
Tesla investors should visit us at https://www.claimsfiler.com/cases/view-tesla-inc-securities-litigation-1 or call to speak to our claim center toll-free at (844) 367-9658.
About the Lawsuit
Tesla and certain of its executives are charged with making materially false and misleading statements and/or failing to disclose material facts during the Class Period, violating federal securities laws.
On August 7, 2018, Tesla CEO Elon Musk stated via Twitter that “[a]m considering taking Tesla private at $420. Funding secured,” among other things, which sent Tesla shares soaring to close at $379.57. Then, from August 9-14, 2018, media reports revealed a SEC probe into the veracity of the statements, widespread questions regarding the supposed secured funding, and statements contradicting Musk’s remark implying that financial advisors had already been retained for the transaction.
On this news, the price of Tesla’s shares plummeted.
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