Musk Attys Call $13B SolarCity Merger Damages Preposterous

By Jeff Montgomery (January 18, 2022, 6:17 PM EST) -- In a proposal dubbed "preposterous" by the other side, Tesla stockholder attorneys suggested a $13 billion stock giveback Tuesday as one remedy in a suit challenging Tesla CEO Elon Musk's allegedly conflicted role in the electric car company's 2016 acquisition of rooftop solar panel venture SolarCity. The suggestion came during post-trial merger challenge arguments in Delaware's Chancery Court.

Tesla CEO Elon Musk's counsel on Tuesday derided a suggestion by stockholders for a $13 billion stock giveback as a cure in a suit challenging Musk's allegedly conflicted role in the 2016 acquisition of rooftop solar panel venture SolarCity. (AP Photo/Susan Walsh) The swing-for-the-fence, rescissory damages suggestion, branded "preposterous"...

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