31 Oct 2023

Tesla under microscope for inflated claims about capabilities

From Checkpoint, 6:17 pm on 31 October 2023

Tesla is under the microscope over allegations it's may have over revved claims about its famous cars capitalities.

The company's revealed it's been subpoena'd by the US Department of Justice for more informaton, including the range of its cars.

In its quarterly statement to the Securities and Exchange Commission, Telsa warns if the government decides to pursue enforcement action, there's the possibility of a material adverse impact on business, financial position or brand.

Though it says to its knowledge no government agency has concluded that any wrong doing's occurred.

But Jacob Frenkel, who is a former SEC enforcement attorney and ex federal prosecutor says its serious when the Justice Department comes calling with a subpoena.