Chancery Puts $2.6B Tesla-SolarCity Deal Suit On Trial Track
Law360 (February 5, 2020, 4:01 PM EST) -- A Delaware vice chancellor put claims against Elon Musk on track for trial by denying dueling early win bids on most claims of a stockholder challenge to Tesla’s $2.6 billion SolarCity merger, except a limited early ruling in Musk’s favor related to transaction disclosures.
In a 36-page memorandum opinion made public Wednesday, Vice Chancellor Joseph R. Slights III denied investors' partial summary judgment motion and Musk’s motion on all claims except those related to a valuation analysis and projections as to the financial impact the merger would have on Tesla.
“The issues raised in the cross-motions [for summary judgment] implicate settled...
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