Autonomous truck technology developer TuSimple Holdings Inc. suppressed concerns about safety risks in the period leading up to its April 2021 billion-dollar initial public offering, an investor alleges in a proposed class action.
A recent news report critical of the company’s safety culture caused TuSimple’s stock price to drop 10%, shareholder Austin Dicker says. His complaint was docketed Thursday in the US District Court for the Southern District of California.
TuSimple, several of its executives, and underwriters failed to disclose that the company “was rushing the testing of its autonomous driving technology in order to deliver driverless trucks to the ...
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