Lead Plaintiff Deadline Is Getting Closer For Tesla Motors Inc. (NASDAQ:TSLA)

Posted by admin December 26, 2013 0 Comment 1207 views

Tesla Motors Inc. (NASDAQ:TSLA), a Californian automaker that offers electric vehicles and also engages in development and services of electric powertrain systems, is doing well in the street as well as on the roads this Christmas. The stock surged almost 5.5% on Tuesday, December 24, 2013 and marked an intraday high of $154.97 before closing at $151.41.

While its Model S garnered enough criticism during October and November because of couple of fire accidents, now the same Model S is boosting the stock prices during the holiday season. The stock has surged more than 25% during past one month. This is comparable to Toyota Motor Corp (ADR) (NYSE:TM) and Ford Motor Company (NYSE:F) which have delivered 5.6% and 10.3% negative returns in past one month.

5-Star Safety Rating

The National Highway Traffic Safety Administration recently reaffirmed “5-star” safety rating for the 2014 model of Tesla Motors Inc. (NASDAQ:TSLA)’s Model S car. Icing on the top, the Model S 2014 make obtained 5-star rating for each of the subcategories, besides gaining overall 5-star rating.

The NHTSA board assesses vehicle safety by testing frontal, rear and side crash as well as resistance to rollover. “5-star” safety rating is certainly a “big” thing as only 1% of cars tested receive this rating from NHTSA.

Moreover this rating is also important because NHTSA has reaffirmed after investigating the details regarding after effect following battery pack damage and Tesla Motors’ approach to solve the related consequences. The investigation was initiated following three fire incidents in five week span. Tesla Motors claims that probability of Model S car catching fire is 5 times lesser compared to any other gasoline vehicle.

Class Action Lawsuit

Levi & Korsinsky has reminded Tesla Motors Inc. (NASDAQ:TSLA) investors of a lead plaintiff deadline of January 7, 2014. The complained alleges the Company for misleading or false statement related to safety rating of its Model S.

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