AUSTIN, Texas — Elon Musk and Tesla are accused of securities fraud in a lawsuit filed Monday for concealing the risks of their self-driving vehicles.

The lawsuit follows the launch of robotaxis in Austin, Texas, in late June.

The lawsuit accuses the electric car company and Musk of overstating “the effectiveness of its autonomous driving technology; there was thus a significant risk that the Company’s autonomous driving vehicles, including the Robotaxi, would operate dangerously and/or in violation of traffic laws.”

It is also claimed that the company’s robotaxis disobey traffic laws and risk rider safety.

Moreover, following the start of the test, Tesla’s stock value dropped 6.1% across two trading sessions, costing them roughly $68 billion in market capitalization. The legal action

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