Elon Musk won’t have to face some investor claims challenging disclosures surrounding Tesla Inc.'s 2016 buyout of SolarCity Corp., but the rest of the suit may go forward, a Delaware judge said Tuesday.
Tesla shareholders accused Musk and other directors of tricking them into supporting the $2 billion acquisition of SolarCity, a solar panel firm Musk started with relatives.
Both sides sought summary judgment, but only Musk convinced the Delaware Chancery Court to accept part of his argument.
The investors argued that Evercore, the investment bank that advised Tesla on the deal, didn’t provide enough details in its financial analysis. ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.