NEW YORK, NY / ACCESSWIRE / October 19, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Tesla, Inc. ("Tesla" or the "Company") (NASDAQ:TSLA). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Tesla and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On October 10, 2024, Tesla unveiled the Company's Cybercab self-driving concept car at the Company's "We, Robot" event and announced plans to create a fleet of autonomous vehicles and robots, with the goal of starting production before 2027. Analysts and investors did not react positively to Tesla's announcements. An analyst at Jefferies published a note entitled "We, Underwhelmed", analysts at Barclays said that the revelations failed to highlight any near-term opportunities for Tesla, and Piper Sandler analysts opined that "most trading-oriented firms will be underwhelmed by the robo-taxi unveiling."
Following Tesla's announcements, the Company's stock price fell $20.97 per share, or 8.78%, to close at $217.80 per share on October 11, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP