NEW YORK, Sept. 21, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of TuSimple Holdings Inc. (“TuSimple” or the “Company”) (NASDAQ: TSP). Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 7980.
The investigation concerns whether TuSimple and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
on August 1, 2022, The Wall Street Journal published an article reporting, among other things, that an accident in which one of TuSimple’s self-driving trucks suddenly made a left turn, crossed a freeway, and crashed into a cement barricade, “underscores concerns that the self-driving company is affecting safety on public roads at risk in a rush to bring driverless trucks to market.” While TuSimple reported that the accident was due to a person in the cab improperly restarting the autonomous driving system before turning it on, the researchers argue that “it was the autonomous driving system that turned the wheel and that human error is blamed for the entire accident is misleading.” The Federal Motor Carrier Safety Administration has launched a “Safety Compliance Investigation” into TuSimple.
As a result of this news, TuSimple’s share price fell $0.97 per share, or 9.74%, to close at $8.99 per share on August 1, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, breaches of fiduciary duty and…
Continue to read on GlobeNewswire https://www.globenewswire.com/news-release/2022/09/21/2520623/1087/en/SHAREHOLDER-ALERT-Pomerantz-Law-Firm-Investigates-Claims-On-Behalf-of-Investors-of-TuSimple-Holdings-Inc-TSP.html