LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC, a shareholder rights firm, announces the filing of a class action lawsuit against Tesla, Inc. (“Tesla” or the “Company”) (Nasdaq: TSLA) concerning possible violations of federal securities laws between May 4, 2016, and October 6, 2017, inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm prior to the December 11, 2017 lead plaintiff motion deadline.

To participate in this class action lawsuit, click here.

You can also call Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or you can e-mail him at brian@lundinlawpc.com.

No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.

According to the Complaint, throughout the Class Period, Tesla made materially false and/or misleading statements, and/or failed to disclose, that contrary to the Company’s representations that it was prepared for the launch of its Model 3 sedan, the Company had severely inadequate inventory and was woefully unprepared to launch its Model 3 sedan as anticipated; and thus, its public statements were materially false and misleading at all relevant times. On October 2, 2017, the Company cited “production bottlenecks” as the reason for its failure to meet its production goals for its Model 3 sedan. On October 6, 2017, the Wall Street Journal published an article reporting, in part, that “[u]nknown 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.” Upon release of this information, shares of Tesla fell in value materially, which caused investors harm according to the Complaint.

Lundin Law PC was founded by Brian Lundin, Esquire, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.

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