NEW YORK, Feb. 20, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Tesla, Inc. (“Tesla” or the “Company”) TSLA. Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.

The investigation concerns whether Tesla and certain of its officers and/or directors engaged in securities fraud or other illegal business practices.

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On January 27, 2023, Reuters published an article reporting that as “part of an ongoing Securities and Exchange Commission (SEC) investigation into the company’s claims about its Autopilot driver assistance system,” SEC officials are considering whether [Tesla Chief Executive Officer Elon] Musk may have made inappropriate forward-looking statements about the Autopilot system.

As a result of this news, Tesla’s stock price fell $11.24 per share, or 6.32%, to close at $166.66 per share on January 30, 2023.

Then, on February 16, 2023, the National Highway Safety Administration ordered a recall of nearly 363,000 Tesla vehicles equipped with the company’s “Full Self-Driving Beta” software, stating that the software allowed the equipped vehicles, “in an unlawful or unpredictable manner,” increasing the risk of accidents.

As a result of this news, Tesla’s stock price fell $12.20 per share, or 5.69%, to close at $202.04 per share on February 16, 2023.

The Pomerantz law firm, with offices in New York, Chicago, Los Angeles, London and Paris, is recognized as one of the leading law firms in the areas of corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, known as Dean of the Class Attorney’s Association, the Pomerantz firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz law firm continues the tradition he established and fights for the rights of victims of securities fraud, breaches of fiduciary duty and corporate misconduct. The…