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home / articles / XLY - Tesla Told To Face Autopilot Lawsuit In The Wake Of Safety Probes- Report | Benzinga


XLY - Tesla Told To Face Autopilot Lawsuit In The Wake Of Safety Probes- Report | Benzinga

Tesla Inc. (NASDAQ:TSLA) has been asked to confront a proposed class-action lawsuit claiming the company misled consumers regarding its cars' self-driving capabilities. 

This marks a new challenge for the electric vehicle manufacturer, as CEO Elon Musk sees the company's future in autonomous driving.

Tesla is accused of falsely stating in 2016 that all forthcoming cars would have the "hardware needed for full self-driving capability" and could autonomously drive from Los Angeles to New York City by the end of 2017, reported Bloomberg.

Judge Rita Lin of the U.S. District Court noted that the complaint sufficiently alleges that if Tesla intended to suggest its hardware could achieve full automation, it was misleading. 

This ruling came in response to Musk's recent affirmation that Tesla is ...

Full story available on Benzinga.com

Stock Information

Company Name: SPDR Select Sector Fund - Consumer Discretionary
Stock Symbol: XLY
Market: NYSE

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