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US court dismisses securities fraud lawsuit against Tesla

A U.S. federal court in Northern California has for the second time dismissed a securities fraud lawsuit filed by Tesla Inc. shareholders in 2017, which alleges the electric-vehicle maker made misleading comments regarding the production status of its Model 3.

The first complaint was dismissed in August 2018 but the judge allowed the plaintiffs to file an amended one.

According to the March 25 court filing, the amended complaint mostly contains the same arguments as the first complaint, but adds allegations that Tesla made statements that "were false as to the then-current state of affairs and so not forward-looking statements."

Tesla responded by saying the statements were not false and accompanied by meaningful qualifications. The court granted Tesla's motion to dismiss the lawsuit and concluded that the complaint is dismissed with prejudice and without leave to amend.