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Tesla shareholders sue Elon Musk for allegedly hyping up faltering Robotaxi

Carmaker and CEO accused of securities fraud and hiding significant risk posed by company’s self-driving vehicles

Tesla shareholders sued Elon Musk and the electric vehicle maker for allegedly concealing the significant risk posed by company’s self-driving vehicles.

The proposed class-action suit, which accuses Musk and Tesla of securities fraud, was filed on Monday night. Tesla conducted its first public test of its self-driving taxis in late June near the company’s headquarters in Austin, Texas. That test showed the vehicles speeding, braking suddenly, driving over a curb, entering the wrong lane and dropping off passengers in the middle of multilane roads. The National Highway Transit Safety Administration (NHTSA), the main transportation regulator in the US, is investigating the Robotaxi’s pilot test.

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