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TuSimple Holdings Inc.


The law firm of Kirby McInerney LLP is investigating potential claims against TuSimple Holdings Inc. (“TuSimple” or the “Company”) (NASDAQ: TSP). The investigation concerns whether TuSimple has violated the federal securities laws and/or engaged in other unlawful business practices.
 
TuSimple engages in the operation and development of autonomous trucks. TuSimple Holdings Inc. operates as a holding company. The Company develops self-driving technologies to meet the demands of heavy-duty and semi-trucks.
 
On August 1, 2022, The Wall Street Journal published an article alleging, among other things, that an accident in which one of TuSimple’s autonomously driven truck 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, The Wall Street Journal article reported that researchers argue that “it was the autonomous-driving system that turned the wheel and that blaming the entire accident on human error is misleading.” In addition, the article reported that the Federal Motor Carrier Safety Administration has launched a “safety compliance investigation” into TuSimple. On this news, the price of TuSimple shares declined by $0.97, or approximately 9.73%, from $9.96 per share to close at $8.99 on August 1, 2022.
 

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