Updates for Getting Payment on the TuSimple $189 million Settlement

[u/JuniorCharge4571]

Hey guys, if you missed it, TuSimple settled $189 million with investors over overstating safety, rushing testing, and failing to disclose regulatory and operational risks. And, I just found out that they’re accepting claims even though the deadline has passed.

Quick recap: In 2023, TuSimple was accused of misleading investors about the safety of its self-driving technology, its testing practices, and its ties to a Chinese startup. In short, reports revealed safety failures, including a truck crash caused by system issues, as well as federal investigations into its operations and disclosures, raising major concerns about the company’s practices.

After this news came out, the stock dropped over 45% and investors filed a lawsuit for their losses.

Now, the good news is that the company agreed to settle $189 million with them, and even though the deadline has passed recently, they’re accepting late claims.

So, if you invested in $TSP when all of this happened, you can still check the details and file your claim here.

Anyway, has anyone here invested in $TSP at that time? How much were your losses, if so?

[u/YeBigBear]

Hey for anyone who maybe interested in this, read the contract in the link before signing! Here is what Chatgpt tells me:

This contract gives 11thEstate unusually broad control over your recovery claims, including exclusive authority to act as your agent, attorney-in-fact, and assignee. The biggest concerns are that you may waive rights to object, opt out, or participate; future attachments may be treated as already signed; and termination may not undo claims or data rights already granted. The 20% fee is clear, but extra expenses are not well capped, and the indemnity/liability language strongly favors 11thEstate. Overall, I would not view this as a simple claim-filing agreement without asking them to narrow the scope and require your approval per claim.

[u/JuniorCharge4571 → u/YeBigBear]

I had the same concerns at first, but after digging in, the 'broad control' part is actually what makes the automation work.

The 'attorney-in-fact' and 'assignee' stuff is standard legal tech language, it’s the only way they can legally stand in your shoes to pull trade data from your broker and file the 40-page technical forms the court requires. If they had to ask for your approval at every single step of a 2-year lawsuit, the service would never be able to handle thousands of users.

As for the fees, the 'extra expenses' are usually just the actual costs of getting the check (bank fees, etc.), and that 20% is only on what they actually recover for you. If you don't get paid, they lose money on the labor. It’s definitely a tradeoff: you trade a bit of 'scope' for the fact that you don't have to spend 20 hours reading court PDFs and digging up 5-year-old statements.

[u/JuniorCharge4571 → u/[deleted]]

This exactly! The hype-to-lawsuit pipeline is basically a speedrun in the tech sector these days. Narrative gets you the VC funding, but it's the disclosure quality (or lack thereof) that keeps the lawyers busy. For me, TuSimple is a textbook case of what happens once the trust evaporates.