All Tesla Directors Other Than Musk Settle SolarCity Suits (3)

All Tesla Inc. directors except Chief Executive Officer Elon Musk agreed to a $60 million settlement to resolve shareholder lawsuits over the company’s purchase of SolarCity, according to court filings.

Insurers covering Tesla’s directors and executives will foot the bill as part of a so-called derivative settlement, two people familiar with the accord said Wednesday, declining to be identified because they aren’t authorized to speak publicly about the deal.

Musk and the board were accused of duping investors in 2016 into backing the $2 billion buyout of the solar-panel installer, which was co-founded by Musk and his cousins. ...