Tesla (NASDAQ:TSLA) stock is in the news Thursday as the electric vehicle (EV) company faces a new class-action lawsuit over range concerns.
This lawsuit claims that Tesla overstated the range of its EVs when marketing them to consumers. It also alleges that the company created a diversion team to avoid meetings with customers that have range complaints.
Milberg Coleman Bryson Phillips Grossman is representing three plaintiffs in this case. Each of them claims that the range of their Tesla EVs isn’t as far as advertised and that the company refused to take their complaints seriously.
However, Tesla may not be in that much trouble from this lawsuit. The company has continued to follow regulations from the Environmental Protection Agency (EPA) when it comes to listing the range of its EVs.
What This Means For TSLA Stock
While a class-action lawsuit against Tesla isn’t a good look for TSLA stock, it isn’t doing much damage to it yet. The company’s shares are only down slightly as of Thursday morning. However, the results of the case could change that. If a court rules against the EV company, it could act as a negative catalyst for its shares.
In other words, TSLA stock investors will just have to keep an eye on the court case as it develops to see if it will matter in the long run.
Investors looking for other stock market stories to read up on today are in the right place!
InvestorPlace is home to all of the hottest stock market news that traders need to know about on Thursday! A few examples of those include why shares of T2 Biosystems (NASDAQ:TTOO), Ballard Power Systems (NASDAQ:BLDP), and Sunrun (NASDAQ:RUN) are in the news today. Interested investors can get up to speed on all of these matters by following the links below!
More Stock Market News For Thursday
- TTOO Stock Alert: Is T2 Biosystems the Next Meme Stock?
- Why Is Ballard Power (BLDP) Stock Up 7% Today?
- RUN Stock Price Prediction: Can Sunrun Really Rally 80% From Here?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
