Elon Musk prevails in Delaware court case on SolarCity deal
Fox News
Tesla CEO Elon Musk came out victorious in a legal battle Wednesday over whether he acted in the best interest of other shareholders when he took on a $2.6 billion solar panel acquisition in buying SolarCity.
Musk decided to fight the lawsuit even after other directors on Tesla’s board at the time of the deal reached a $60 million settlement without an admission of fault. Had the Delaware court ruled against him, Musk could have been ordered to pay $2 billion or more at the same time he is trying close a $44 billion acquisition of Twitter. Musk has pledged to cover $21 billion of the price in the Twitter deal, which was struck earlier this week.
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