{"id":1456406,"date":"2022-04-28T08:14:40","date_gmt":"2022-04-28T12:14:40","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1456406"},"modified":"2022-04-28T08:14:46","modified_gmt":"2022-04-28T12:14:46","slug":"elon-musk-wins-13-billion-lawsuit-over-teslas-acquisition-of-solar-city","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/elon-musk-wins-13-billion-lawsuit-over-teslas-acquisition-of-solar-city\/","title":{"rendered":"Elon Musk Wins $13 Billion Lawsuit Over Tesla\u2019s Acquisition of Solar City"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Felon-musk-wins-13-billion-lawsuit-over-teslas-acquisition-of-solar-city%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1456406&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"image-element__wrap\"> <img loading=\"lazy\" decoding=\"async\" alt=\"Elon Musk Wins $13B Lawsuit Over Tesla&#039;s Solar City Deal\" src=\"https:\/\/cdn.shopify.com\/s\/files\/1\/0173\/8204\/7844\/articles\/1_295ef561-3d9e-4c2d-bdf3-85d083cb66b4_50x.jpg?v=1651100399\" data-src=\"\/\/cdn.shopify.com\/s\/files\/1\/0173\/8204\/7844\/articles\/1_295ef561-3d9e-4c2d-bdf3-85d083cb66b4_1600x.jpg?v=1651100399\" data-sizes=\"auto\" data-aspectratio=\"1200\/675\" data-srcset=\"\/\/cdn.shopify.com\/s\/files\/1\/0173\/8204\/7844\/articles\/1_295ef561-3d9e-4c2d-bdf3-85d083cb66b4_5000x.jpg?v=1651100399 5000w,     \/\/cdn.shopify.com\/s\/files\/1\/0173\/8204\/7844\/articles\/1_295ef561-3d9e-4c2d-bdf3-85d083cb66b4_4500x.jpg?v=1651100399 4500w,     \/\/cdn.shopify.com\/s\/files\/1\/0173\/8204\/7844\/articles\/1_295ef561-3d9e-4c2d-bdf3-85d083cb66b4_4000x.jpg?v=1651100399 4000w,     \/\/cdn.shopify.com\/s\/files\/1\/0173\/8204\/7844\/articles\/1_295ef561-3d9e-4c2d-bdf3-85d083cb66b4_3500x.jpg?v=1651100399 3500w,     \/\/cdn.shopify.com\/s\/files\/1\/0173\/8204\/7844\/articles\/1_295ef561-3d9e-4c2d-bdf3-85d083cb66b4_3000x.jpg?v=1651100399 3000w,     \/\/cdn.shopify.com\/s\/files\/1\/0173\/8204\/7844\/articles\/1_295ef561-3d9e-4c2d-bdf3-85d083cb66b4_2500x.jpg?v=1651100399 2500w,     \/\/cdn.shopify.com\/s\/files\/1\/0173\/8204\/7844\/articles\/1_295ef561-3d9e-4c2d-bdf3-85d083cb66b4_2000x.jpg?v=1651100399 2000w,     \/\/cdn.shopify.com\/s\/files\/1\/0173\/8204\/7844\/articles\/1_295ef561-3d9e-4c2d-bdf3-85d083cb66b4_1800x.jpg?v=1651100399 1800w,     \/\/cdn.shopify.com\/s\/files\/1\/0173\/8204\/7844\/articles\/1_295ef561-3d9e-4c2d-bdf3-85d083cb66b4_1600x.jpg?v=1651100399 1600w,     \/\/cdn.shopify.com\/s\/files\/1\/0173\/8204\/7844\/articles\/1_295ef561-3d9e-4c2d-bdf3-85d083cb66b4_1400x.jpg?v=1651100399 1400w,     \/\/cdn.shopify.com\/s\/files\/1\/0173\/8204\/7844\/articles\/1_295ef561-3d9e-4c2d-bdf3-85d083cb66b4_1200x.jpg?v=1651100399 1200w,     \/\/cdn.shopify.com\/s\/files\/1\/0173\/8204\/7844\/articles\/1_295ef561-3d9e-4c2d-bdf3-85d083cb66b4_1000x.jpg?v=1651100399 1000w,     \/\/cdn.shopify.com\/s\/files\/1\/0173\/8204\/7844\/articles\/1_295ef561-3d9e-4c2d-bdf3-85d083cb66b4_800x.jpg?v=1651100399 800w,     \/\/cdn.shopify.com\/s\/files\/1\/0173\/8204\/7844\/articles\/1_295ef561-3d9e-4c2d-bdf3-85d083cb66b4_600x.jpg?v=1651100399 600w,     \/\/cdn.shopify.com\/s\/files\/1\/0173\/8204\/7844\/articles\/1_295ef561-3d9e-4c2d-bdf3-85d083cb66b4_400x.jpg?v=1651100399 400w,     \/\/cdn.shopify.com\/s\/files\/1\/0173\/8204\/7844\/articles\/1_295ef561-3d9e-4c2d-bdf3-85d083cb66b4_200x.jpg?v=1651100399 200w\" height=\"675\" width=\"1200\" class=\"lazyload transition--blur-up\" \/>\n<\/div>\n<p><noscript><br \/>\n<\/noscript> <\/p>\n<p><span><em>Photo: Reuters<\/em><\/span><\/p>\n<p>Elon Musk wins a $13 billion lawsuit over Tesla&#8217;s purchase of Solar City in 2016. This verdict indicates that Tesla&#8217;s board of directors made the decision to buy the company on their own, without influence or direction from Musk, at a fair price.<\/p>\n<p>The judge sided with Elon Musk in a major lawsuit filed by Tesla shareholders. They alleged that the chief executive coerced the electric vehicle company&#8217;s board of directors into purchasing SolarCity in 2016. In this regard, they demanded damages in the amount of $13 billion. Shareholders claimed Tesla&#8217;s $2.6 billion deal to buy SolarCity shares was to save it from financial hardship. According to them, this \u201crescue\u201d was orchestrated directly by Musk. Ultimately, the judge did not find facts that would confirm this, so he ruled in favor of the head of Tesla on all points, without exception.<\/p>\n<p>\u201c[The] Tesla Board meaningfully vetted the Acquisition, and Elon did not stand in its way,\u201d read the opinion by Vice Chancellor Joseph Slights. \u201cEqually if not more important, the preponderance of the evidence reveals that Tesla paid a fair price\u2014SolarCity was, at a minimum, worth what Tesla paid for it,\u201d he added.<\/p>\n<p>In fact, the purchase of SolarCity was inevitable for Tesla for one simple reason\u2014it was in line with the company&#8217;s plan and roadmap announced back in 2006. This was part of the vertical integration of the company, and although the process of merging and equally focusing on the development of the two areas was difficult, at the moment SolarCity\u2014renamed Tesla Energy\u2014is a rapidly growing business that generates profit.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/1_40b34232-7216-419e-8c67-f0fe3fba5681_600x600.jpg\" alt=\"\" \/><\/p>\n<p><span>\u00a9 2022, Eva Fox | Tesmanian. All rights reserved.<\/span><\/p>\n<p><meta \/><\/p>\n<p>_____________________________<\/p>\n<p>We appreciate your readership! Please share your thoughts in the comment section below.\u00a0<\/p>\n<p><span><em><strong><a href=\"https:\/\/twitter.com\/SmokeyShorts\">Article edited by @SmokeyShorts, you can follow him on Twitter<\/a><\/strong><\/em><\/span><\/p>\n<p><strong><a href=\"https:\/\/twitter.com\/EvaFoxU?ref_src=twsrc%5Etfw\" class=\"twitter-follow-button\" data-show-count=\"false\">Follow @EvaFoxU<\/a><\/strong><\/p>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Photo: Reuters Elon Musk wins a $13 billion lawsuit over Tesla&#8217;s purchase of Solar City in 2016. This verdict indicates that Tesla&#8217;s board of directors<\/p>\n","protected":false},"author":498,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1456406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1456406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/498"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1456406"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1456406\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1456406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1456406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1456406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}