- July 7, 2021
- Posted by: Stratford Team
- Category: Business
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- Elon Musk is due to appear in court on July 12 to defend Tesla’s acquisition of solar-panel company SolarCity.
- Tesla acquired SolarCity, which was owned by Musk’s cousins, in 2016.
- Tesla shareholders filed a suit in 2017 accusing Musk and Tesla’s board of effectively bailing out SolarCity.
- See more stories on Insider’s business page.
Elon Musk is due to head to court in Delaware on July 12 to defend Tesla’s acquisition of solar panel company SolarCity in 2016 against angry Tesla shareholders.
The lawsuit was originally filed in 2017 by a group of Tesla shareholders who claimed the acquisition amounted to a bailout of SolarCity, which was founded and run by Musk’s cousins, Lyndon Rive and Peter Rive. Musk and the rest of the Tesla board, including Musk’s brother Kimbal Musk, benefitted from the deal…
