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- Federal prosecutors and securities regulators investigated whether Tesla Inc (NASDAQ:TSLA) misled consumers and investors about the performance of its advanced driver-assistance system, the Wall Street Journal reported.
- The Justice Department scrutinized Tesla's statements about the safety and functionality of the system known as Autopilot. The SEC conducted a similar civil investigation.
- Tesla's Autopilot system helps drivers with tasks such as steering and maintaining a safe distance from other vehicles on the highway, but it does not make cars autonomous.
- The U.S. auto-safety regulator and the California Department of Motor Vehicles also scrutinized Autopilot.
- Tesla told drivers to pay attention to the road and keep their hands on the wheel, but it's public messaging has often appeared inconsistent with that guidance.
- The DOJ's criminal investigation involves authorities in Washington and San Francisco.
- The SEC can enforce civil investor-protection laws.
- The National Highway Traffic Safety Administration, the federal auto-safety regulator, launched an investigation of Autopilot last year after a series of crashes involving Teslas and first-responder vehicles stopped at emergency scenes. The agency recently escalated that probe.
- This summer, the California DMV accused Tesla of falsely advertising its vehicles as autonomous.
- Tesla has said driving with Autopilot engaged is safer than doing so without it.
- Tesla CEO Elon Musk has frequently stated that Tesla's automated driving software is safe but also safer than anything of which a human driver is capable.
- Tesla will soon launch an updated version of its "Full Self-Driving" software that will enable users to travel without touching the steering wheel.
- Related: Tesla Is Under Reported Criminal Investigation As Elon Musk Enters Twitter Headquarters
- Price Action: TSLA shares traded lower by 0.54% at $223.87 in the premarket on the last check Friday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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