logo
Tesla settles lawsuit challenging Louisiana direct sales ban

Tesla settles lawsuit challenging Louisiana direct sales ban

Yahoo3 days ago
By Jonathan Stempel
(Reuters) -Tesla on Monday settled a lawsuit against Louisiana and various auto dealerships and trade groups, in which CEO Elon Musk's electric car company challenged the state's ban since 2017 on direct vehicle sales to consumers.
According to a dismissal motion filed in New Orleans federal court, Tesla's claims have been "fully and finally resolved," with state officials maintaining they were simply doing their jobs and did not violate criminal laws.
Tesla sued members of the Louisiana Motor Vehicle Commission, dealerships owned by individual commissioners, and the Louisiana Automobile Dealers Association in August 2022.
It accused motor vehicle commissioners associated with rival dealerships of exploiting their control of the commission by targeting its sales model, which does not use a network of franchised dealers, as an alleged "existential threat."
The lawsuit also challenged restrictions on leasing and servicing Teslas in Louisiana.
Lawyers for the defendants did not immediately respond to requests for comment. Tesla and its lawyers did not immediately respond to similar requests.
In August 2024, the federal appeals court in New Orleans revived Tesla's constitutional due process claim and set aside a judge's dismissal of its antitrust claim, citing possible bias against the Austin, Texas-based automaker.
Last month, the U.S. Supreme Court declined to hear an appeal of that decision by 18 motor vehicle commissioners.
The case is Tesla Inc et al v. Louisiana Automobile Dealers Association et al, U.S. District Court, Eastern District of Louisiana, No. 22-02982.
Solve the daily Crossword
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Coinbase Global (COIN): 'For All I Know It's A Pump And Dump, I Don't See Anybody Dumping?' Says Jim Cramer
Coinbase Global (COIN): 'For All I Know It's A Pump And Dump, I Don't See Anybody Dumping?' Says Jim Cramer

Yahoo

time17 minutes ago

  • Yahoo

Coinbase Global (COIN): 'For All I Know It's A Pump And Dump, I Don't See Anybody Dumping?' Says Jim Cramer

We recently published . ABC is one of the stocks Jim Cramer recently discussed. Coinbase Global, Inc. (NASDAQ:COIN) is a cryptocurrency exchange whose 57% year-to-date share price gain has resulted from legislation benefiting stablecoins and the bullish run in Bitcoin. Cramer's previous comments about Coinbase Global, Inc. (NASDAQ:COIN) asserted that the firm has benefited from its large market share. This time, he discussed Coinbase Global, Inc. (NASDAQ:COIN)'s valuation: '[On Cantor going to $500] I think that's within reason. PE's of these companies, this is the lowest one in park, at 40 times earnings, well Robinhood's not that low yet, I mean not that high. I mean People have to understand P/E analysis is not working. Robinhood's at 62 times earnings. COIN is at 40 times earnings. And people will say, uh, Jim, the multiple's too high. And I come back and say, do you really think the retail investor knows what a multiple is? Like what are you like, some sort of abstraction? See, this is a new world. I'm realistic. Look, for all I know it's a pump and dump, I don't see anybody dumping? I'll tell you when it's over. When the insiders do big deals and sell. And when there's secondaries. And there haven't been. That's what caused 2014. That's what caused it to end. 2020. That's what caused it to end. I mean, 2000. That's what caused it. 2000 being the vicious number of secondaries between January and March of 2021 and also about 2020. These years were just horrendous. And these companies broke down. I'm waiting for that. But it's not happening. So I wanna give people my history. Which is that it should have happened by now. Like Karp should have been selling and the companies should have been raising money. But they don't need to. These companies are incredibly well capitalized. And when people want to try and say, you know what they're like what happened to the dotcoms, I remember the dotcoms. They didn't have any money.' While we acknowledge the potential of COIN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.

Amazon faces UK lawsuits worth up to $5.4 billion from retailers, consumers
Amazon faces UK lawsuits worth up to $5.4 billion from retailers, consumers

Yahoo

time17 minutes ago

  • Yahoo

Amazon faces UK lawsuits worth up to $5.4 billion from retailers, consumers

LONDON (Reuters) -Amazon faces two mass lawsuits from retailers and consumers worth up to 4 billion pounds ($5.4 billion) for allegedly abusing its dominant position, after a London tribunal on Thursday certified the cases could proceed. Andreas Stephan, a competition law academic, is bringing one of the cases on behalf of over 200,000 third-party retailers, worth up to 2.7 billion pounds. His lawyers allege that Amazon manipulates the "Buy Box" feature on its website to its own advantage and favours products that use Amazon's own logistics centres and delivery network. Consumer advocate Robert Hammond is separately bringing a case valued at up to 1.3 billion pounds on behalf of millions of Amazon customers for similar alleged abuses of dominance. Amazon argued that the Competition Appeal Tribunal should certify the cases to proceed, an early step in the proceedings, including because the economic methodology for proving the cases was flawed. But the tribunal certified both cases on an opt-out basis, meaning members of the claimant class will be part of the case unless they decide otherwise. An Amazon spokesperson said: "These claims are without merit and we're confident that will become clear through the legal process. "Amazon has always focused on supporting the 100,000 businesses that sell their products on our UK store, and more than half of all physical product sales on our UK store are from independent selling partners." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Domino's Pizza, (DPZ): 'Be Prepared To Be steamrolled,' Says Jim Cramer
Domino's Pizza, (DPZ): 'Be Prepared To Be steamrolled,' Says Jim Cramer

Yahoo

time17 minutes ago

  • Yahoo

Domino's Pizza, (DPZ): 'Be Prepared To Be steamrolled,' Says Jim Cramer

We recently published . Domino's Pizza, Inc. (NASDAQ:DPZ) is one of the stocks Jim Cramer recently discussed. Domino's Pizza, Inc. (NASDAQ:DPZ) is a well-known American pizza chain. The shares have gained 11% year-to-date, helped partly by a 4% jump in July. Domino's Pizza, Inc. (NASDAQ:DPZ)'s stock was helped by a strong earnings report, which saw its US same-store sales jump by 3%. Cramer discussed the firm's partnership with DoorDash: 'I remember when Russell Weiner called me. Russell Weiner's fantastic, the CEO's fantastic. And he said, the street's underestimating this partnership [with DoorDash]. And I said well I'm not gonna underestimate it, cause he's been wanting to go with me the whole lot time. . .But Russell is a hitter. And he said this would happen. People just said, well what does it mean? And the answer it that it means there is another channel. And historically there hasn't been another channel, because the owners, the franchisees, always want to be the only channel. But I just think he's fabulous. That was really good numbers. People who don't like him, be prepared to be steamrolled.' Previously, the CNBC TV host discussed Berkshire Hathaway's stake in Domino's Pizza, Inc. (NASDAQ:DPZ): 'Russell Weiner said do you know that Warren Buffett is now my second largest shareholder? And that's Dominos. And he said I don't speak to him but it is, and I said well I don't know, maybe it's possible that he's not, that he, but I went to Becky Quick, because Becky can ask him. But what an informator if you find out that he is your second-largest shareholder.' While we acknowledge the potential of DPZ as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store