Self-Driving Truck Maker $189 Million Fraud Settlement Is Final

Former self-driving truck maker TuSimple Holdings Inc. and its then insurance carriers will pay $189 million to settle a securities fraud class action over its safety culture after getting a federal judge’s final sign off.

Investors suing the company, executives, and TuSimple’s bank underwriters—including Morgan Stanley & Co., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, BofA Securities Inc., and Credit Suisse Securities (USA) LLC—said that $189 million would be “the largest securities class action recovery ever” in the US District Court for the Southern District of California. Bloomberg Law reached out to the court’s media liaison seeking confirmation. ...