Tesla Shares Lose Ground on Friday Over Safety Defect Allegations

Shares of Tesla (TSLA) - Get Report are down Friday after denying a safety defect with the suspensions in both its Model S and Model X. In a blog post late Thursday, the company addressed claims that there were issues with its suspensions. There were allegations that Tesla had requested a signature preventing a customer from talking to the National Highway Traffic Safety Administration or any other government agency about such problems. Tesla called the claims 'preposterous.' Tesla also said NHTSA has not opened any investigations into the company and that it has cooperated fully with the agency in providing any information about the suspensions. Shares of Tesla are up about 10 percent over the past month.

This article was written by a staff member of TheStreet.