Civil Plaintiff
A Judge Rules in Favor of Elon Musk in a $13 Billion Dispute Over a Tesla-SolarCity Deal
Tesla Inc Chief Executive Officer Elon Musk did not unjustly enrich himself when he guided the electric vehicle maker in 2016 to acquire SolarCity Corp, where Musk was chairman and the largest shareholder, a Delaware judge ruled on Wednesday.
Tesla shareholders had accused Musk of coercing Tesla’s board into buying SolarCity, a struggling rooftop solar panel maker, to rescue his investment, and had sought up to $13 billion in damages.
The ruling comes as Musk is tapping his vast fortune to acquire Twitter Inc, which accepted his $44 billion offer on Monday. It also followed a ruling from a separate court earlier in the day that denied a Musk bid to end oversight of his Tesla tweets.
