Bryan Logan/Business Insider Tesla is asking a court to dismiss a securities fraud lawsuit by shareholders who said the electric vehicle maker gave false public statements about the progress of producing its new Model 3 sedan. The company said that its statements about the challenges the company faced with Model 3 were "frank and in plain language," including CEO Elon Musk's assertion that the company is in "production hell." The electric-car maker argued that it did not seek to hide the truth about challenges it's experiencing with its first mass-market vehicle. Tesla is under pressure to deliver the Model 3 to reap revenue and stem massive spending that has put Tesla's finances in the red. SAN FRANCISCO (Reuters) - Tesla on Friday asked a court to dismiss a securities fraud lawsuit by shareholders who said the electric vehicle maker gave false public statements about the progress of producing its new Model 3 sedan.See the rest of the story at Business InsiderNOW WATCH: Why so many fast food logos are redSee Also:The rise and fall of Elizabeth Holmes, who started Theranos when she was 19 and became the world's youngest female billionaire before it all came crashing downTesla settles class action lawsuit over 'dangerous' Autopilot system11 things unsuccessful people do over long weekendsSEE ALSO: Elon Musk's Twitter rant is a smoke-and-mirrors tactic that hides the disturbing truth about Tesla

 

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