NEW YORK, Aug. 05, 2022 (GLOBE NEWSWIRE) — The law firm of Kirby McInerney LLP is investigating potential claims against TuSimple Holdings Inc. (“TuSimple” or the “Company”) (NASDAQ: TSP). The investigation concerns whether TuSimple has violated the federal securities laws and/or engaged in other unlawful business practices.
TuSimple engages in the operation and development of autonomous trucks. TuSimple Holdings Inc. operates as a holding company. The Company develops self-driving technologies to meet the demands of heavy-duty and semi-trucks.
On August 1, 2022, The Wall Street Journal published an article alleging, among other things, that an accident in which one of TuSimple’s autonomously driven trucks suddenly veered left, cutting across a highway and slamming into a cement barricade “underscores concerns that the autonomous-trucking company is risking safety on public roads in a rush to deliver driverless trucks to market.” While TuSimple reported that the accident was due to a person in the cab not properly rebooting the autonomous driving system before engaging it, The Wall Street Journal article reported that researchers argue that “it was the autonomous-driving system that turned the wheel and that blaming the entire accident on human error is misleading.” In addition, the article reported that the Federal Motor Carrier Safety Administration has launched a “safety compliance investigation” into TuSimple. On this news, the price of TuSimple shares declined by $0.97, or approximately 9.73%, from $9.96 per share to close at $8.99 on August 1, 2022.
If you purchased or otherwise acquired TuSimple securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Wall St Business News, Latest and Up-to-date Business Stories from Newsmakers of Tomorrow