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Tesla Motors (NASDAQ:TSLA): Closing price $34.40
Massachusetts Superior Court Judge Kenneth Fishman of Norfolk County decided that the Massachusetts State Automobile Dealers Association, along with other plaintiffs lacked standing to sue, which was the basically the same as a November ruling turning down a preliminary injunction against Tesla’s suburban Boston store. The plaintiffs had contended that Tesla’s stores violate state licensing, consumer protection and franchise laws. However, the Association’s Executive Vice President Robert O’Koniewski responded to the decision, saying that ”We disagree with his decision. He contends the association has standing under changes made to the state’s franchise law in 2002. “If you read the statute, it’s pretty clear: a factory cannot own a store, and a dealer can sue for injunctive relief if they feel the public is being harmed.”
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