It said shareholders bought “artificially inflated” shares because Musk and other executives misled them with bullish statements about the production ramp of the Model 3, failing to disclose that the company was “woefully unprepared” for the vehicle’s production.
Tesla argued in its defence that it had been forthcoming about challenges with Model 3 production, including repeated statements by Musk that Tesla was undergoing “production hell.” Breyer wrote that the allegations of fraud ignored Tesla’s “repeated warnings about Model 3 production risks.”Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to
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