$TSLA - TESLA AUTOPILOT CASE OVERBLOWN, NO MAJOR IMPACT: PIPER
Piper Sandler downplayed the significance of Tesla's recent Autopilot-related jury verdict in Florida, saying the case is less serious than headlines suggest.
A jury found Tesla partially liable in a 2019 crash, awarding $243M—mostly in punitive damages. Piper expects much of that, especially the $200M in punitive damages, to be overturned on appeal, noting Florida rarely enforces such awards in product cases.
The firm pointed out the car used 2018 software, not Tesla’s current FSD, and said the crash had already been settled, with the driver admitting fault for pressing the accelerator.
Piper concluded the case has no direct impact on FSD’s future and maintained its Overweight rating on Tesla.
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