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Tesla Motors (TSLA): Judge Dismisses Lawsuit Brought By Auto Dealers In Massachusetts

 January 04, 2013 04:13 PM


(By Balaseshan) Tesla Motors Inc. (NASDAQ: TSLA) said a Superior Court judge dismissed a lawsuit brought by the Massachusetts State Automobile Dealers Association claiming the electric vehicles maker was in violation of state law by conducting sales within the state.

The judge dismissed the case based upon the auto dealers' lack of standing and failure to state a claim.

Previously, the judge denied a temporary restraining order and preliminary injunction requested by the Massachusetts State Automobile Dealers Association and in December Tesla Motors was granted a full Class 1 Dealer License by the Town of Natick's Board of Selectmen.

[Related -Tesla Motors, Inc. (TSLA) Q2 Earnings Preview: Full of Surprises?]

The Massachusetts State Automobile Dealers Association has also filed a separate lawsuit against the individual Selectmen that make up the Natick Board.

"We think this subsequent lawsuit is a very unfortunate action taken by the Massachusetts State Automobile Dealers Association against a group of individual citizens who thoroughly reviewed our request for a Class 1 Dealer License and thoughtfully made a decision that was both legal and in the best interests of the citizens of Natick," said Elon Musk, Tesla co-founder and CEO.

Tesla is pursuing a company owned store and service center model to accelerate the adoption of electric vehicle technology and to interact with consumers in a friendly, open and no-pressure environment.

Tesla's retail concept demonstrates the benefits of driving electric through informative videos, interactive displays, and a Design Studio where customers can configure their own Tesla Model S on a large touchscreen.

[Related -Forget Tesla: Profit From These 2 Surprise Electric-Vehicle Stocks]

TSLA closed Friday's regular session down 1.06% at $34.40. The stock has been trading between $22.64 and $39.95 for the past 52 weeks.

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