NEWTOWN, Pa., March 16, 2023 (GLOBE NEWSWIRE) — The law firm of Edelson Lechtzin LLP is investigating securities fraud claims on behalf of all buyers of Tesla, Inc. (“Tesla” or the “Company”) TSLA Common Shares between February 19, 2019 and February 17, 2023 (the “Collection Period”).

Tesla investors can petition the US District Court for the Northern District of California to appoint them lead plaintiffs at the latest April 28, 2023. Current Tesla stockholders can implement corporate governance reforms. Please contact Edelson Lechtzin LLP to discuss your investment losses at 1-844-696-7492 or email at elechtzin@edelson-law.com. A copy of the class action lawsuit is available for inspection HERE.

Background information on Tesla, Inc.

Tesla is a multinational automotive, clean energy and artificial intelligence company headquartered in Austin, Texas, incorporated in Delaware. The company operates “six massive, vertically integrated factories” on three continents. They build, design, sell and service a range of products such as electric vehicles and energy generation and storage systems.

The securities fraud claims

In 2014, Tesla announced Tesla Autopilot, a suite of supposedly advanced driver assistance system (“ADAS”) features including automatic lane centering, traffic-aware cruise control, lane-changing, semi-autonomous navigation, and self-parking. In September 2014, Tesla cars began shipping equipped with the sensors and software needed to support the Autopilot system. Since then, Tesla has touted refinements and improvements to its ADAS and Autopilot features, including what it calls “Full Self-Driving” (“FDS”) software, which allegedly allows Tesla vehicles to drive autonomously to a destination included in the entered the car’s navigation system.

The Complaint alleges that throughout the Class Period, the Defendants made false and/or misleading statements and/or failed to disclose the following: (i) The Defendants had materially overstated the efficacy, viability and safety of the Company’s products…