BEIJING, April 28 (Reuters) – A Delaware judge ruled on Wednesday that when Tesla CEO Elon Musk directed the company to buy solar energy company SolarCity for $2.6 billion in 2016, Not unjustly enriching yourself.Musk was SolarCity’s chairman and largest shareholder at the time.
Previously, Tesla shareholders accused Musk of forcing Tesla’s board to buy troubled SolarCity to save his investment, demanding compensation of up to $13 billion (about 85.3 billion yuan).
Delaware Chancery Associate Justice Joseph Slights said: “The preponderance of the evidence shows that Tesla paid a fair price. SolarCity is at least worth the price Tesla paid, and the acquisition is a great deal to Tesla. Very favorable.” He also pointed out that the transaction process was flawed and that Musk should not have been deeply involved in the transaction, but the fair price of SolarCity outweighed the allegations that the transaction unfairly enriched Musk.
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