NEW YORK, Sept. 13, 2018 /PRNewswire/ — Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national securities and consumer rights litigation firm, reminds investors that a number of class action lawsuits have been filed recently against Tesla, Inc. (“Tesla” or the “Company”) (NASDAQ: TSLA) and its Chief Executive Officer, Elon Musk (collectively, “Defendants”), regarding Musk’s tweet on August 7, 2018 that “funding” for a deal to go private had been “secured.” Cases have been filed on behalf of stock purchasers as well as options holders and purchasers.
If you purchased Tesla securities between August 7, 2018 and August 17, 2018, and lost over $100,000, you are encouraged to contact a Scott+Scott attorney at (844) 818-6982 for more information.
The lawsuits allege that defendant Elon Musk (“Musk”) violated the Securities Exchange Act of 1934 by issuing false and misleading statements regarding Musk taking Tesla private. In particular, on August 7, 2018, Musk issued a statement via Twitter that “funding” for the deal to go private had been “secured” (“Funding secured”).
In reaction to Musk’s Tweet, the price of Tesla stock soared to an intra-day high of $387.46, $45.47 above the previous day’s closing price. It then closed at $379.57 on August 7, 2018.
The SEC has reportedly opened a formal inquiry into whether Defendants manipulated Tesla securities.
As of the date of this release, Tesla closed at $279.44 per share.
What You Can Do
If you purchased Tesla securities between August 7 and August 17, 2018, inclusive, and you suffered over $100,000 in losses, or if you have questions about this notice or your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982, or at email@example.com. The lead plaintiff deadline in the stock purchase cases is October 9, 2018; for the options cases, it is October 15, 2018.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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