The suit, filed in an Austin federal court, accuses Musk and Tesla of securities fraud for allegedly concealing risk related to the company's self-driving technology.

Elon Musk and Tesla were sued by shareholders who accused them of securities fraud for concealing the significant risk that the company's self-driving vehicles, including the Robotaxi, were dangerous.

The class action suit was filed by shareholder Denise Morand in a federal court in Austin, Texas. Following the news, Tesla’s shares fell for two consecutive days, dropping as much as 6%. Tesla’s shar