San Diego, CA -- (SBWire) -- 08/25/2022 --TuSimple Holdings Inc. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of TuSimple Holdings Inc. (NASDAQ: TSP), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by TuSimple Holdings Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
San Diego, CA based TuSimple Holdings Inc., an autonomous technology company, develops autonomous technology specifically designed for semi-trucks in the United States and internationally. In April 2022, TuSimple Holdings Inc. conducted its initial public offering ("IPO"), selling approximately 33.78 million shares priced at $40.00 per share.
Then on August 1, 2022, before market hours, The Wall Street Journal published an article entitled "Self-Driving Truck Accident Draws Attention to Safety at TuSimple: Leading autonomous-truck developer blames human error, while analysts say it is the technology; regulators are investigating[.]" The article reported, among other things, that an April 6, 2022 accident in which one of TuSimple's autonomously driven trucks "suddenly veered left, cut[ting] across the I-10 highway in Tucson, Ariz., and slammed into a concrete barricade … underscores concerns that the autonomous-trucking company is risking safety on public roads in a rush to deliver driverless trucks to market, according to independent analysts and more than a dozen of the company's former employees." While TuSimple reported that the accident was due to a person in the cab not properly rebooting the autonomous driving system before engaging it, "researchers at Carnegie Mellon University said it was the autonomous-driving system that turned the wheel and that blaming the entire accident on human error is misleading." The Federal Motor Carrier Safety Administration has launched a "safety compliance investigation" into TuSimple.
Shares of TuSimple Holdings Inc. (NASDAQ: TSP) declined from $10.85 per share on July 21, 2022, to $8.83 per share on August 3, 2022.
Those who purchased shares of TuSimple Holdings Inc. (NASDAQ: TSP) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
NASDAQ:TSP Investor Notice: Investigation over Potential Securities Laws Violations by TuSimple Holdings Inc.
An investigation for investors in TuSimple Holdings Inc. (NASDAQ:TSP) shares over potential securities laws violations by TuSimple Holdings Inc. was announced.