r/investingchina
Check your old accounts: TuSimple ($TSP) is paying out $189M after their self-driving truck mess.
TuSimple ($TSP) settled its truck scandal for $189M; investors holding shares from April 2021 to Dec 2022 can still file late claims.
- Rushed safety tests and hid massive risks, resulting in a severe scandal and government investigation.
- Stock price collapsed by over 98% from its peak following leaked crash videos.
- Agreed to a massive $189 million settlement, reflecting severe financial and legal consequences of their misconduct.
Remember when TuSimple ($TSP) promised they were the future of self-driving semi-trucks? It turns out they rushed their safety tests and hid huge risks from everyone.
Things got really bad when a video leaked showing one of their trucks crashing into a highway wall, and then the government started investigating them. The stock dropped by over 98% from its highest point, but they agreed to pay a massive $189 million to settle the case. If you bought or owned shares between April 15, 2021, and December 20, 2022, you can sign up to get your share of the cash.
The better, they are officially **accepting Late Claims**. Even though the first deadlines have passed, the people managing the money are still taking late applications. It takes just a few minutes to log into your old investing account, find your trade history from 2021 or 2022, and submit your claim.
Leaving up money on the table for a stock that crashed 98% is just letting them keep your money.
I am already pulling up my old statements to send in my late claim before the door closes for good. Did any of you actually see the video of that truck crash when it happened, or did you only find out after the stock tanked?