NEW YORK, Aug. 17, 2018 /PRNewswire/ -- Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Tesla, Inc. ("Tesla" or the "Company") (NASDAQ:TSLA) resulting from allegations that Tesla and/or its executives may have issued materially misleading business information to the investing public.
If you purchased Tesla securities, and/or would like to discuss your legal rights and options, please visit Tesla Shareholder Investigation or contact Daniel Sadeh toll free at (877) 779-1414 or dsadeh@bernlieb.com.
On August 16, 2018, during aftermarket hours, The New York Times published an article of Elon Musk's recent "hourlong interview with The New York Times." The article stated that "Mr. Musk provided a detailed timeline of the events leading up to the Twitter postings on Aug. 7 in which he said he was considering taking the company private at $420 a share." The article stated that Mr. Musk "acknowledged Thursday that no one had seen or reviewed [the tweet] before he posted it." The article further stated "that [Tesla's] funding, it turned out, was far from secure." According to the article, "Mr. Musk…was referring to a potential investment by Saudi Arabia's government investment fund. Mr. Musk had extensive talks with representatives of the $250 billion fund about possibly financing a transaction to take Tesla private — maybe even in a manner that would have resulted in the Saudis' owning most of the company. One of those sessions took place on July 31 at the Tesla factory in the Bay Area, according to a person familiar with the meeting. But the Saudi fund had not committed to provide any cash, two people briefed on the discussions said."
On this news, Tesla's stock fell $29.95 per share, or over 8%, from its previous closing price to close at $305.50 per share on August 17, 2018, damaging investors.
If you purchased Tesla securities, and/or would like to discuss your legal rights and options, please visit https://www.bernlieb.com/cases/tesla-inc-tsla-lawsuit-class-action-fraud-stock-77/ or contact Daniel Sadeh toll free at (877) 779-1414 or dsadeh@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.
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Contact Information
Daniel Sadeh
Bernstein Liebhard LLP
http://www.bernlieb.com
(877) 779-1414
dsadeh@bernlieb.com
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SOURCE Bernstein Liebhard LLP
