SHAREHOLDER ALERT: Spector, Roseman & Kodroff, P.C. Announces Class Action Lawsuit Filed Against Tesla, Inc.
August 21 2018 - 2:44PM
Business Wire
The law firm of Spector, Roseman & Kodroff, P.C. announces
that a securities class action lawsuit has been filed on behalf of
investors who purchased Tesla, Inc. (Nasdaq: TSLA) securities
between August 7, 2018 and August 14, 2018 (the “Class
Period”).
According to the lawsuit, throughout the Class Period,
defendants failed to disclose adverse facts about Tesla’s business,
operations, and prospects, including: 1) Tesla had not secured
funding for the Company’s proposed “going-private transaction”; (2)
the proposed “going-private transaction” required the approval of
Tesla’s Board of Directors, not just Tesla’s shareholders; and
(3) Tesla’s Board was unaware of any alleged funding for the
proposed transaction. Between August 9-14, 2018, media reports
surfaced about an SEC probe into Musk’s tweets regarding secured
funding, an investigation by Tesla's Board, and statements by
financial advisors contradicting Musk’s statement about secured
funding. During this period, the price of Tesla’s common stock
declined over 8% from $379.57 per share on August 7, 2018 to close
at $347.64 on August 14, 2018.
Until a class is certified, you are not represented by counsel
unless you retain one. You may also remain an absent class member
and do nothing at this point or you may retain counsel of your
choice.
If you purchased Tesla securities during the Class Period, you
may, no later than October 9, 2018, move to be appointed as
a Lead Plaintiff in this class action. A Lead Plaintiff is a
representative chosen by the Court that acts on behalf of other
class members in directing the litigation. If you have sustained
substantial losses in Tesla securities during the Class Period and
wish to move to be appointed as Lead Plaintiff, please contact
Spector, Roseman & Kodroff, P.C. toll-free at 888-844-5862 or
via e-mail at classaction@srkattorneys.com. For more detailed
information about the firm please visit its website at
http://srkattorneys.com.
Spector, Roseman & Kodroff, P.C., located in Philadelphia,
Pennsylvania, concentrates its practice in complex litigation
including actions dealing with securities laws, antitrust,
contract, and commercial claims. The firm’s reputation for
excellence has been recognized by courts on repeated occasions. The
firm has recovered hundreds of millions of dollars through
judgments and settlements on behalf of defrauded shareholders and
companies.
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version on businesswire.com: https://www.businesswire.com/news/home/20180821005632/en/
Spector, Roseman & Kodroff, P.C.Robert M. Roseman,
888-844-5862Daniel Mirarchi, 888-844-5862
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