NEW YORK, NY / ACCESSWIRE / August 14, 2022 / Pomerantz LLP is investigating claims on behalf of investors of TuSimple Holdings Inc. ('TuSimple' or the 'Company') (NASDAQ: TSP). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether TuSimple and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

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On August 1, 2022, The Wall Street Journal published an article reporting, 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, researchers argue that 'it was the autonomous-driving system that turned the wheel and that blaming the entire accident on human error is misleading.' The Federal Motor Carrier Safety Administration has launched a 'safety compliance investigation' into TuSimple.

On this news, TuSimple's stock price fell $0.97 per share, or 9.74%, to close at $8.99 per share on August 1, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com

SOURCE: Pomerantz LLP