The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Tesla, Inc. (NASDAQ: TSLA) who purchased shares between May 4, 2016 and October 6, 2017. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that (1) contrary to defendants’ representations, Tesla had severely inadequate inventory and was woefully unprepared to launch its Model 3 sedan as anticipated; and (2) as a result, Tesla’s public statements were materially false and misleading at all relevant times.
Shareholders have until December 11, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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