A lawsuit was filed on behalf of investors in Tesla, Inc. (NASDAQ: TSLA) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 08/28/2018 -- An investor, who purchased shares of Tesla, Inc. (NASDAQ: TSLA), filed a lawsuit over alleged Securities Laws violations by Tesla, Inc. in connection with certain allegedly false and misleading statements made between after 12:48 pm eastern standard time on August 7, 2018 through and including August 8, 2018.
Investors who purchased shares of Tesla, Inc. (NASDAQ: TSLA) have certain options and for certain investors are short and strict deadlines running. Deadline: October 9, 2018. NASDAQ: TSLA investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff alleges on behalf of purchasers of Tesla, Inc. (NASDAQ: TSLA) common shares, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that defendant Elon Musk, the Company's Chairman and Chief Executive Officer, and Tesla, Inc. violated the Securities Exchange Act of 1934 by issuing false and misleading statements regarding Musk taking the Company private
In particular, and importantly, on August 7, 2018, at 12:48pm eastern standard time Elon Musk, the Chief Executive Officer of Tesla, Inc , issued a statement via Twitter that "funding" for the deal had been "secured" ("Funding secured").
The price of shares of Tesla, Inc. (NASDAQ: TSLA) rose to an intra-day high of $387.46, $45.47 above the previous day's closing price, closing at $379.57 per share.
The plaintiff alleges that, Elon Musk, however, was not telling the truth and that he had rather Tweeted to decimate the Company's short-sellers who were forced to cover their positions over the succeeding days at artificially inflated prices.
The price of Tesla, Inc. (NASDAQ: TSLA) stock also remained inflated throughout the next day, August 8, 2018.
Those who purchased shares of Tesla, Inc. (NASDAQ: TSLA) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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