Tesla, the maker of high-performance electric vehicles, has associated its name with high technology and the future. In its May 4, 2016 First Quarter 2016 Shareholder Update letter, it discussed its plans for its Model 3 vehicle, saying, “In the first week of taking deposits for Model 3, we received more than 325,000 reservations despite no advertising or paid endorsements. This implies about $14 billion in future sales, making the Model 3 introduction the biggest consumer product launch ever.” Yet more than a year later, a Wall Street Journal article claimed that in the third quarter of 2017, the company had made only 260 Model 3s—or an average of three per day. Had the company painted a wildly inaccurate picture of its prospects? The complaint for this class action alleges it has done exactly that, in violation of the Securities Exchange Act of 1934.