Tesla Said an Autopilot Crash Would Be 'Material' Before Elon Musk Said It Wasn't : VIDEO
Tesla Said an Autopilot Crash Would Be 'Material' Before Elon Musk Said It Wasn't
by Stephen Gandel @stephengandel JULY 6, 2016,
In an SEC filing just three days after the fatal accident.
Tesla driver killed in autopilot crash might still be alive if trailers had side
underride guards source treehugger.com
VIDEO
http://for.tn/29MIBW6
edited by kcontents
Apparently, a crash related to Tesla’s autopilot feature was material, before it wasn’t.
On Tuesday, Fortune reported that Elon Musk and Tesla Motors TSLA 0.22% may have withheld a material fact from shareholders when it failed to disclose that a driver had died using the semi-self driving “autopilot” feature in one of the company’s vehicles. The fatal accident, the first known case related to the autopilot feature, occurred 11 days before Musk and Tesla sold $2 billion shares in an offering on May 18. Yet the company made no mention of the crash in its offering documents. The news of the accident didn’t come out until last week, when it was reported by federal highway authorities—six weeks after the offering.
Musk told Fortune via email that the deadly crash wasn’t “material” information that Tesla investors needed to know. After the article appeared on Tuesday, Musk called the article “BS” in a tweet and said that the fact that Tesla’s shares rose on Friday following the accident’s disclosure showed that the accident wasn’t material.
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http://fortune.com/2016/07/06/tesla-autopilot-crash-material-ceo-elon-musk
