Law 360

JULY 23, 2021

Testimony on Tesla's "meteoric" stock price increase after its more than $2 billion acquisition of rooftop solar company SolarCity Corp. in 2016 drew an objection Friday in a Delaware Chancery stockholder suit seeking damages from CEO Elon Musk for his allegedly conflicted role.

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Law 360

JULY 13, 2021

CEO Elon Musk told a Delaware vice chancellor Tuesday that the electric car company's $2.6 billion purchase of SolarCity Corp. Tesla Motors Inc. reflected efforts to advance sustainable energy goals, as a bench trial with potentially billions of damages in the balance continued.

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Law 360

JULY 12, 2021

CEO Elon Musk denied Monday that rooftop solar venture SolarCity Corp. was "troubled" when the electric car company bought it for $2.6 Tesla Motors Inc. billion in 2016, at the sometimes acrimonious opening of a 10-day Delaware Chancery Court trial on demands that Musk repay billions to stockholders.

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Law 360

JULY 14, 2021

director Kimbal Musk said Wednesday in Delaware Chancery Court that he gave little weight to warnings about the electric car company's $2.6 billion acquisition of SolarCity Corp. Tesla Motors Inc. in 2016, in testimony as part of a stockholder suit seeking billions in damages from his brother, Tesla CEO Elon Musk.

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Law 360

JULY 20, 2021

denied Tuesday that the company's decision to buy SolarCity Corp. billion was "wired" for approval and driven by company CEO Elon Musk's hefty stake in both companies, according to testimony in a Delaware trial on stockholder claims for billions of dollars in damages. The chair of Tesla Motors Inc.

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Law 360

JULY 15, 2021

A former SolarCity Corp. stockholder claims Thursday that the company was insolvent in the runup to an allegedly unfair $2.6 chief financial officer challenged Tesla Inc. billion Tesla bailout in 2016, arguing during a trial in Delaware Chancery Court that its liquidity woes were overblown.

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