Tag: SolarCity

Court Upholds Musk’s Win in $13 Billion Lawsuit Over Tesla-SolarCity Deal

June 6, 2023
Business & MarketsCompaniesdelaware supreme courtElon MuskenergySolarCitytesla
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A trial court properly found that Tesla Inc. CEO Elon Musk did not push the electric carmaker to overpay for SolarCity in 2016, the Delaware Supreme Court said on Tuesday, ending years of litigation over the $2.6 billion deal. Musk was the biggest shareholder in both companies at the time, and Tesla shareholders alleged the…

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Tesla Investors Urge Judge to Order Musk Repay $13 Billion for SolarCity Deal

January 19, 2022
Business & EconomyCompaniesElon MuskInvestmentMedia & Big TechSolarCityteslaUSUS News
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WILMINGTON, Del—Tesla Inc shareholders urged a judge on Tuesday to find Elon Musk coerced the company’s board into a 2016 deal for SolarCity and asked that the chief executive be ordered to pay the electric vehicle company one of the largest judgments ever of $13 billion. “This case has always been about whether the acquisition…

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Musk Defends Tesla’s $2.6 Billion Deal for SolarCity

July 13, 2021
BusinessCompaniesElon MuskSolarCity
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WILMINGTON, Del.—Elon Musk insisted in court that Tesla Inc’s board controls the company but also said the electric vehicle maker would “die” if he wasn’t the chief executive, as he ended his first day of testimony on Monday in defense of Tesla’s 2016 acquisition of SolarCity. The lawsuit by union pension funds and asset managers…

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