Elon Musk Beats Investor Suit Over Tesla-SolarCity Merger
Law360 (July 31, 2019, 10:39 PM EDT) -- A California federal judge Wednesday tossed a suit from two Tesla shareholders against its CEO Elon Musk and other executives seeking to recover short-swing profits the executives allegedly earned from Telsa's $2.6 billion acquisition of SolarCity Corp. finding the Tesla board rightly approved the deal.
U.S. District Judge Beth Labson Freeman rejected claims from John A. Olagues and Ray Wollney that Musk and the other executives violated the Securities Exchange Act of 1934, ruling that the defendants met the necessary requirements to have the deal pushed through with their approval.
"It appears clear from the face of the complaint, documents incorporated...
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