A Delaware judge on Wednesday sided with Tesla CEO Elon Musk in a lawsuit brought by the electric vehicle maker’s shareholders that accused him of coercing the company’s board into buying SolarCity.
Tesla acquired California-headquartered SolarCity for $2.6 billion in 2016 in a stock-for-stock merger.
The company was founded in 2006 by Musk’s cousins, Peter and Lyndon Rive, and sold and installed solar energy generation systems.
At the time, Tesla stated in its blog that the two companies would create “the world’s only vertically integrated sustainable energy company” and produce “fully integrated residential, commercial and grid-scale products that improve the way that energy is generated, stored, and consumed.”
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