Shulou(Shulou.com)11/24 Report--

CTOnews.com June 7, Tesla's CEO Elon Musk (Elon Musk) finally won a lawsuit that lasted for several years. On Tuesday, the Delaware Supreme Court ruled that Musk did not force Tesla to pay a high price for the rooftop solar company when he acquired SolarCity in 2016.

At the time, Musk was the largest shareholder in the two companies, and some shareholders of Tesla accused Musk of pushing Tesla's board of directors to make the deal to save his investment in the troubled company in Solar City, worth $2.6 billion (CTOnews.com Note: about 18.512 billion yuan currently).

The state's Supreme Court said that although a judge at the Chetzley Court in Delaware (Delaware Court of Chancery) was wrong in part of the analysis, his overall argument supported his judgment that Tesla paid a reasonable price for the solar city.

The appeals were filed by union pension funds and asset managers who appealed against the 2022 ruling of Deputy Judge Joseph Slights of the Chetzley Court. Slatz retired, and the ruling rejected shareholders' claims that Solar City was insolvent at the time of the deal.

The appellant argued that Slitz mistakenly relied on the market price of Solar City, which was affected by solar companies' selective disclosure of their finances. They also argue that Slitz found Musk intervened in the deal after a 10-day trial in 2021, but did not hold him accountable.

Shareholders hope to force Mr Musk to return Tesla shares he acquired in the acquisition, which were once worth $13 billion.

The Delaware Supreme Court said that while the way Slitz's ruling was presented needed to be improved, his findings generally supported his conclusion, particularly the "complete collapse" of shareholders' theory that Solar City had gone bankrupt.

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