Tesla, Inc. (NASDAQ: TSLA)

COURT: U.S. District Court for the Northern District of California
PRACTICE AREA: Investor Fraud
STATUS: Investigation
CLASS PERIOD: May 4, 2016 - November 1, 201
510-725-3000 TSLA@hbsslaw.com

Hagens Berman Sobol Shapiro LLP alerts investors in Tesla, Inc. (NASDAQ: TSLA) to the securities class action pending in the U.S. District Court for the Northern District of California and the December 11, 2017 Lead Plaintiff Deadline.

If you purchasd or otherwise acquired securities of TSLA between May 4, 2016 and October 6, 2017 and suffered losses contact Hagens Berman Sobol Shapiro LLP.  For more information contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing TSLA@hbsslaw.com.

On October 6, 2017, the Wall Street Journal reported: “Unknown to analysts, investors and the hundreds of thousands of customers who signed up to buy it, as recently as early September major portions of the Model 3 were still being banged out by hand, away from the automated production line, according to people familiar with the matter.”  This news drove the price of TSLA shares down $13.94, or nearly 4%, to close at $342.94 on October 9, 2017.

Then, on November 1, 2017, the WSJ reported (a) “Tesla said it would build 10% fewer Model S and X vehicles in the fourth quarter than the third quarter” and (b) “[t]he outlook is even worse for the Model 3 […] [i]t now expects to produce 5,000 a week by the first quarter of next year, another slippage in its timeline.”  This news drove the price of TSLA shares down as much as $24.80, or nearly 8%, during intraday trading on November 2, 2017.

“We’re focused on Tesla’s apparent omissions concerning its struggle to build the Model 3 and investor damages resulting from the recent revelations,” said Hagens Berman partner Reed Kathrein.

Whistleblowers: Persons with non-public information regarding Tesla should consider their options to help in the investigation or take advantage of the SEC whistleblower program.  Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.  For more information, call Reed Kathrein at 510-725-3000 or email TSLA@hbsslaw.com.


Hagens Berman purchases advertisements on search engines, social media sites and other websites. Transmission of the information contained or available through this website is not intended to create, and receipt does not constitute, an attorney-client relationship. If you seek legal advice or representation by Hagens Berman, you must first enter a formal agreement. All information contained in any transmission is confidential and Hagens Berman agrees to protect information against unauthorized use, publication or disclosure. This site is regulated by the Washington Rules of Professional Conduct.

Back to all cases


Please fill out the form below and we will get back to you as soon as we can.
File Upload *
Additional Information *
Send me: *

Case videos

Case Gallery

Case Timeline

11/03/17: Investigation