EV major Tesla (NASDAQ:TSLA) has settled a lawsuit by paying a settlement fee of $1.5 million over its mishandling of hazardous waste in California. Earlier in the week, a lawsuit was filed by the district attorneys of 25 California counties, suing Tesla for mishandling hazardous waste at its facilities, including improper labeling and disposal of various materials. The lawsuit was filed after months of discussions, as it failed to reach any kind of settlement.
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Tesla’s settlement includes $1.3 million in civil penalties and $200,000 in reimbursement of costs related to this investigation. In addition to the settlement, Tesla has to comply with a “detailed” injunction for five years and has to prove that its employees are properly trained and conduct waste audits for five years.
What Is the Future Price of Tesla Stock?
Analysts remain sidelined about TSLA stock with a Hold consensus rating based on 12 Buys, 16 Holds, and six Sells. Over the past month, TSLA has dropped by more than 20%, and the average TSLA price target of $220.98 implies an upside potential of 17% at current levels.
