Exclusive-In Tesla Autopilot probe, US prosecutors focus on securities, wire fraud

After the wildfires — lessons on being prepared | SaltWire #wildfire #novascotia #thinkingoutoud - U.S. prosecutors are examining whether Tesla committed securities or wire fraud by misleading investors and consumers about its electric vehicles’ self-driving capabilities, three people familiar with the matter told Reuters.

The Securities and Exchange Commission is also investigating Tesla’s representations about driver-assistance systems to investors, one of the people said. The SEC declined to comment. A Tesla engineer testified in 2022 in a lawsuit over a fatal crash involving Autopilot that one of the videos, posted in October 2016, intended to show the technology’s potential and did not accurately portray its capabilities at the time. Musk nevertheless posted the video on social media, writing: “Tesla drives itself thru urban streets to highway streets, then finds a parking spot.”

Musk has repeatedly promised self-driving Teslas for about a decade."Mere failure to realize a long-term, aspirational goal is not fraud," Tesla lawyers said in a 2022 court filing.Prosecutors scrutinizing Tesla’s autonomous-car claims are proceeding with caution, recognizing the legal hurdles they face, the people familiar with the inquiry said.

Safety regulators and courts have raised concerns in recent months that corporate messaging about the technology - including the brand names Autopilot and Full Self-Driving - have imbued customers with a false sense of security.

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