Tesla and Elon Musk had hoped that the rollout of a long-awaited Robotaxi service in Austin, Texas, would mark a major step forward for the company, bringing fully autonomous driving technology to the public.

Shareholders said this included Musk's assurance on an April 22 conference call that Tesla was "laser-focused on bringing robotaxi to Austin in June," and Tesla's claim the same d

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.