Self-Driving Truck Maker TuSimple Settles Suit for $189 Million

Autonomous truck maker TuSimple Holdings Inc.'s proposed settlement of a securities fraud class action over its safety culture for $189 million should receive preliminary approval, investors told a federal court.

The agreement is “one of the most significant settlements” in the history of the US District Court for the Southern District of California, the investors said Monday.

The suit alleges TuSimple suppressed concerns about safety risks in the period leading up to its April 2021 billion-dollar initial public offering.

After the company went public, an August 2022 news report criticized it for rushing driverless trucks to market without enough concern ...