A panel of three judges from the 9th Circuit appeals court has definitively tossed a bid from Tesla investors Kurt Friedman and Uppili Srinivasan to revive their second amended proposed class-action lawsuit against the electric car maker. Friedman and Srinivasan filed a securities fraud lawsuit against Tesla over the company’s alleged misstatements in 2017 about the company’s production timeline for the Model 3 sedan.
According to the plaintiffs, Tesla CEO Elon Musk and former Chief Financial Officer Deepak Ahuja maintained their stance that the company’s Model 3 production facilities were “on track” to meet its self-imposed target of manufacturing 5,000 Model 3 per week by the end of 2017, despite the fact that the company was experiencing “production hell.” Tesla’s failure to reach its 5,000 per week Model 3 production goal resulted in a 6.8% slide in TSLA stock.
As per U.S. Circuit Judge Daniel P. Collins, however, Tesla’s goal to produce 5,000 Model 3 per week is an unquestionable “forward-looking statement.” The Ninth Circuit explained that Tesla’s statements were neither false nor misleading, and they came with ample cautionary language as well. This meant that the Private Securities Litigation Reform Act’s safe harbor shields the EV maker from liability, as per a report from Law360.
“Tesla’s goal to produce 5,000 vehicles per week is unquestionably a ‘forward-looking statement’ because it is a ‘plan’ or ‘objective of management for future operations,’ and this plan or objective ‘relat[es] to the products’ of Tesla. Contrary to what plaintiffs contend, Tesla’s various statements that it was ‘on track’ to achieve this goal and that ‘there are no issues’ that ‘would prevent’ Tesla from achieving the goal are likewise forward-looking statements,” Judge Collins wrote.
“We reiterate that it is not enough to plead that a challenged statement rests on subsidiary premises about how various future events will play out over the timeframe defined by the forward-looking statement. This reasoning precludes plaintiffs’ theory that Tesla’s year-end goal rested on scheduling assumptions that Tesla knew it was unlikely to meet. Any such schedule about how future production would play out on the way toward the announced goal is simply a set of the ‘assumptions’ about future events on which that goal is based. Like the goal itself, such projected timelines are forward-looking statements,” the panel explained further.
The dismissal from the 9th Circuit appeals court comes as the latest blow to the plaintiffs, who also suffered a dismissal from U.S. District Judge Charles Breyer of the Northern District of California in 2019. Judge Breyer’s decision then also cited Tesla’s “repeated warnings about Model 3 production risks,” as well as Elon Musk’s personal references to “production hell,” as indications that Tesla provided ample warning to investors about its manufacturing challenges for the Model 3. The lawsuit’s 2019 shutdown from Judge Breyer was ultimately what prompted the 9th Circuit appeal.
Read the full report on the 9th Circuit’s decision against the Model 3 production lawsuit here.
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Tesla wins top loyalty and conquest honors in S&P Global Mobility 2025 awards
The electric vehicle maker secured this year’s “Overall Loyalty to Make,” “Highest Conquest Percentage,” and “Ethnic Loyalty to Make” awards.
Tesla emerged as one of the standout winners in the 2025 S&P Global Mobility Automotive Loyalty Awards, capturing top honors for customer retention and market conquest.
The electric vehicle maker secured this year’s “Overall Loyalty to Make,” “Highest Conquest Percentage,” and “Ethnic Loyalty to Make” awards.
Tesla claims loyalty crown
According to S&P Global Mobility, Tesla secured its 2025 “Overall Loyalty to Make” award following a late-year shift in consumer buying patterns. This marked the fourth consecutive year Tesla has received the honor. S&P Global Mobility’s annual analysis reviewed 13.6 million new retail vehicle registrations in the U.S. from October 2024 through September 2025, as noted in a press release.
In addition to overall loyalty, Tesla also earned the “Highest Conquest Percentage” award for the sixth consecutive year, highlighting the company’s continued ability to attract customers away from competing brands. This achievement is particularly notable given Tesla’s relatively small vehicle lineup, which is largely dominated by just two models: the Model 3 and Model Y.
Ethnic market strength and conquest
Tesla also captured top honors for “Ethnic Market Loyalty to Make,” a category that highlighted especially strong retention among Asian and Hispanic households. According to the analysis, Tesla achieved loyalty rates of 63.6% among Asian households and 61.9% among Hispanic households. These figures exceeded national averages.
S&P Global Mobility executives noted that loyalty margins across categories were exceptionally narrow in 2025, underscoring the significance of Tesla’s wins in an increasingly competitive market. Joe LaFeir, President of Mobility Business Solutions at S&P Global Mobility, shared his perspective on this year’s results.
“For 30 years, this analysis has provided a fact-based measure of brand health, and this year’s results are particularly telling. The data shows the market is not rewarding just one type of strategy. Instead, we see sustained, high-level performance from manufacturers with broad portfolios. In the current market, retaining customers remains a critical performance indicator for the industry,” LaFeir said.
Elon Musk
Elon Musk’s lawsuit against OpenAI and Microsoft is heading to jury trial
The ruling keeps alive claims that OpenAI misled the Tesla CEO about its charitable purpose while accepting billions of dollars in funding.
OpenAI Inc. and Microsoft will face a jury trial this spring after a federal judge rejected their efforts to dismiss Elon Musk’s lawsuit, which accuses the artificial intelligence startup of abandoning its original nonprofit mission. The ruling keeps alive claims that OpenAI misled the Tesla CEO about its charitable purpose while accepting billions of dollars in funding.
As noted in a report from Bloomberg News, a federal judge in Oakland, California, ruled that OpenAI Inc. and Microsoft failed to show that Musk’s claims should be dismissed. U.S. District Judge Yvonne Gonzalez Rogers stated that while the evidence remains unclear, Musk has maintained that OpenAI “had a specific charitable purpose and that he attached two fundamental terms to it: that OpenAI be open source and that it would remain a nonprofit — purposes consistent with OpenAI’s charter and mission.”
Judge Gonzalez Rogers also rejected an argument by OpenAI suggesting that Musk’s use of an intermediary to donate $38 million in seed money to the company stripped him of legal standing. “Holding otherwise would significantly reduce the enforcement of a large swath of charitable trusts, contrary to the modern trend,” Judge Gonzalez Rogers wrote.
The judge also declined to dismiss Musk’s fraud allegations, citing internal OpenAI communications from 2017 involving co-founder Greg Brockman. In an email cited by the judge, fellow OpenAI board member Shivon Zilis informed Musk that Brockman would “like to continue with the non-profit structure.”
Just two months later, however, Brockman wrote in a private note that he “cannot say that we are committed to the non-profit. don’t want to say that we’re committed. if three months later we’re doing b-corp then it was a lie.”
Marc Toberoff, a member of Musk’s legal team, said Judge Gonzalez Rogers’s ruling confirms that “there is substantial evidence that OpenAI’s leadership made knowingly false assurances to Mr. Musk about its charitable mission that they never honored in favor of their personal self-enrichment.”
OpenAI, for its part, maintained that Musk’s legal efforts are baseless. In a statement, the AI startup said it is looking forward to the upcoming trial. “Mr. Musk’s lawsuit continues to be baseless and a part of his ongoing pattern of harassment, and we look forward to demonstrating this at trial. We remain focused on empowering the OpenAI Foundation, which is already one of the best-resourced nonprofits ever,” OpenAI stated.
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Tesla arsonist who burned Cybertruck sees end of FAFO journey
The man has now reached the “Find Out” stage.
A Mesa, Arizona man has been sentenced to five years in federal prison for setting fire to a Tesla location and vehicle in a politically motivated arson attack, federal prosecutors have stated.
The April 2025 incident destroyed a Tesla Cybertruck, endangered first responders, and triggered mandatory sentencing under federal arson laws.
A five-year sentence
U.S. District Judge Diane J. Humetewa sentenced Ian William Moses, 35, of Mesa, Arizona, to 5 years in prison followed by 3 years of supervised release for maliciously damaging property and vehicles by means of fire. Moses pleaded guilty in October to all five counts brought by a federal grand jury. Restitution will be determined at a hearing scheduled for April 13, 2026.
As per court records, surveillance footage showed Moses arriving at a Tesla store in Mesa shortly before 2 a.m. on April 28, 2025, carrying a gasoline can and backpack. Investigators stated that he placed fire starter logs near the building, poured gasoline on the structure and three vehicles, and ignited the fire. The blaze destroyed a Tesla Cybertruck. Moses fled the scene on a bicycle and was arrested by Mesa police about a quarter mile away, roughly an hour later.
Authorities said Moses was still wearing the same clothing seen on camera at the time of his arrest and was carrying a hand-drawn map marking the dealership’s location. Moses also painted the word “Theif” on the walls of the Tesla location, prompting jokes from social media users and Tesla community members.
The “Finding Out” stage
U.S. Attorney Timothy Courchaine noted that Moses’ sentence reflects the gravity of his crime. He also highlighted that arson is never acceptable.
“Arson can never be an acceptable part of American politics. Mr. Moses’ actions endangered the public and first responders and could have easily turned deadly. This five-year sentence reflects the gravity of these crimes and makes clear that politically fueled attacks on Arizona’s communities and businesses will be met with full accountability.”
Maricopa County Attorney Rachel Mitchell echoed the same sentiments, stating that regardless of Moses’ sentiments towards Elon Musk, his actions are not defensible.
“This sentence sends a clear message: violence and intimidation have no place in our community. Setting fire to a business in retaliation for political or personal grievances is not protest, it is a crime. Our community deserves to feel safe, and this sentence underscores that Maricopa County will not tolerate political violence in any form.”
Tesla wins top loyalty and conquest honors in S&P Global Mobility 2025 awards
Elon Musk’s lawsuit against OpenAI and Microsoft is heading to jury trial
