{"id":487683,"date":"2022-04-29T08:57:59","date_gmt":"2022-04-29T03:27:59","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=487683"},"modified":"2022-04-29T09:37:52","modified_gmt":"2022-04-29T04:07:52","slug":"tesla-ceo-elon-musk-wins-13-bn-suit-over-2016-solar-city-deal","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/tesla-ceo-elon-musk-wins-13-bn-suit-over-2016-solar-city-deal\/","title":{"rendered":"Tesla CEO Elon Musk wins $13 bn suit over 2016 Solar City deal"},"content":{"rendered":"<p>A US judge has sided with Tesla CEO Elon Musk in a hefty lawsuit brought by Tesla shareholders, which accused the executive of coercing the electric vehicle company&#8217;s board into buying SolarCity back in 2016.<\/p>\n<p>According to TechCrunch, seeking as much as $13 billion in damages, the shareholders alleged that Tesla&#8217;s $2.6 billion, all-stock SolarCity deal amounted to &#8220;rescue from financial distress, a bailout, orchestrated by Elon Musk,&#8221; as per a January statement from the plaintiff&#8217;s attorney, Randy Baron.<\/p>\n<p>While the court found that Musk &#8220;was more involved in the process than a conflicted fiduciary should be,&#8221; it ultimately ruled in favour of the &#8220;technoking&#8221; on all counts. Shareholders still have the option to file an appeal, the report said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A US judge has sided with Tesla CEO Elon Musk in a hefty lawsuit brought by Tesla shareholders, which accused the executive of coercing the electric vehicle company&#8217;s board into buying SolarCity back in 2016. According to TechCrunch, seeking as much as $13 billion in damages, the shareholders alleged that Tesla&#8217;s $2.6 billion, all-stock SolarCity deal amounted to &#8220;rescue from financial distress, a bailout, orchestrated by Elon Musk,&#8221; as per a January statement from the plaintiff&#8217;s attorney, Randy Baron. While the court found that Musk &#8220;was more involved in the process than a conflicted fiduciary should be,&#8221; it ultimately ruled [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,232],"tags":[],"class_list":["post-487683","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-power-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/487683","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=487683"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/487683\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=487683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=487683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=487683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}