'Tesla Settles Class Action Solar Roof Lawsuit For $6M' - CNBC
Portfolio Pulse from Happy Mohamed
Tesla has agreed to pay $6 million to settle a class action lawsuit related to sudden price increases for its Solar Roof product in 2021. The price hikes led to over 6,300 customers cancelling their contracts. The lawsuit settlement could impact around 8,636 customers who were affected by the price increases.
July 11, 2023 | 5:08 pm
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Tesla's settlement of the Solar Roof lawsuit for $6 million could potentially impact investor sentiment. The lawsuit and subsequent cancellations highlight issues with Tesla's pricing and customer relations.
The settlement of the lawsuit could negatively impact Tesla's stock in the short term as it highlights issues with the company's pricing strategy and customer relations. The fact that over 6,300 customers cancelled their contracts due to the price hikes could raise concerns among investors about Tesla's ability to retain customers and generate consistent revenue from its Solar Roof product.
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