Bragar Eagle & Squire, PC is reminding investors of this class action lawsuit

Bragar Eagle & Squire, PC is reminding investors of this class action lawsuit


NEW YORK, Sept. 26, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is reminding investors that class action lawsuits can be filed on behalf of shareholders of TuSimple Holdings, Inc. TSPKohl’s Corporation KSSSema4 Holdings Corp. SMFR SMFRW))) and Medtronic PLC MDT. Shareholders have until the deadlines below to petition the court to appear as lead plaintiffs. For more information on each case, see the link provided.

TuSimple Holdings, Inc. TSP

Collection Period: April 15, 2021 – August 1, 2022 or pursuant to the Company’s IPO dated April 15, 2021

Lead Plaintiff Deadline: October 31, 2022

TuSimple is the subject of a Wall Street Journal Article published August 1, 2022. The article alleges that one of the company’s self-driving trucks left its lane without warning before hitting a cement barricade. The article said the accident “underlines concerns that the autonomous transport company is risking safety on public roads to rush to market driverless trucks.” Although the company tried to blame human error diary points out that “it was the autonomous driving system that turned the wheel and that attributing the entire accident to human error is misleading.” The article also reveals that the Federal Motor Carrier Safety Administration has launched a “Safety Compliance Investigation.”

Based on this news, shares of TuSimple fell $0.97, or 9.7%, during intraday trade to close at $8.99 per share on August 1, 2022.

According to the complaint, the company made false and misleading statements to the market. TuSimple has overstated its commitment to security and has been hiding significant issues with its technology. The company rushed to test its autonomous driving systems to bring its competitors to market. The company fostered a corporate culture that ignored safety in favor of ambitious delivery schedules. This culture led to road test accidents more…

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