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Tesla stock drops over 10% post-lawsuit announcement?
5
Resolution / Starting Odds
Yes • 50%
No • 50%
Financial news outlets, stock market data
Story
Tesla Must Face Class-Action Lawsuit Over $8,000 FSD Claims in California
May 16, 2024, 03:43 AM
Tesla must face a proposed class-action lawsuit accusing it of deceiving consumers on self-driving capabilities. A U.S. judge in California rejected Tesla's bid to dismiss the lawsuit, which claims the company misled buyers into believing their vehicles could soon have full self-driving capabilities. The lawsuit was brought by a customer who spent $8,000 on Full Self-Driving (FSD) in 2017, expecting the car to autonomously drive from New York to LA by the end of that year. This legal challenge marks a significant setback for Elon Musk's electric vehicle company, which has faced accusations since 2016 regarding its self-driving hardware claims. The judge noted that Tesla allegedly lied about its progress incrementally and with increasing specificity over time.
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No significant change (within ±10%) • 34%
Decrease by 10% or more • 33%
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