Elon Musk and Tesla were sued by shareholders who accused them of securities fraud for concealing the significant risk that the company's self-driving vehicles, including the Robotaxi, were dangerous.

TeslaTSLA is trading just below key levels but could be poised to offer investors a buy point in stock market trade after popping nearly 4% Wednesday as CEO Elon Musk teased a significant Full Self-Driving update,

The suit, filed in an Austin federal court, accuses Musk and Tesla of securities fraud for allegedly concealing risk related to the company's self-driving technology.