Muskâs Brother Said He Wasnât Aware Elon Pushed SolarCity Deal
Jul 15 2021, 7:00 PM
July 14 2021, 9:18 PM
July 15 2021, 7:00 PM
(Bloomberg) Kimbal Musk, a Tesla Inc. board member, told a Delaware judge he didnât know his billionaire brother Elon Musk was pushing the company to quickly acquire SolarCity in 2016 and said he didnât give much weight to concerns about the solar-power providerâs financial problems.âI was unaware of my brotherâs activitiesâ surrounding the SolarCity deal, Kimbal Musk told Delaware Chancery Court Judge Joseph Slights III on Wednes.
(Bloomberg) Kimbal Musk, a Tesla Inc. board member, told a Delaware judge he didnât know his billionaire brother Elon Musk was pushing the company to quickly acquire SolarCity in 2016 and said he didnât give much weight to concerns about the solar-power providerâs financial problems.
Musk s Brother Says He Shrugged Off Tesla Deal Warnings law360.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from law360.com Daily Mail and Mail on Sunday newspapers.
Musk defends timing of Tesla s $2.6 billion deal for SolarCity
By Tom Hals and Sierra Jackson
Reuters
WILMINGTON, Del. (Reuters) -Elon Musk told a judge on Tuesday Tesla Inc had to buy SolarCity in 2016 because the failing solar panel company was essential to the electric vehicle maker s long-term goal of accelerating the transition to sustainable energy.
The celebrity chief executive completed about eight hours of testimony over two days to defend himself against a lawsuit brought by union pension funds and asset managers who allege he strong-armed Tesla directors into buying the cash-strapped SolarCity for $2.6 billion.
Musk at the time owned a 22% stake in both Tesla and SolarCity, which was founded by his cousins. The Tesla shareholders want Musk to be ordered to return the value of the deal to Tesla.
Wednesday, 14 Jul 2021 07:58 AM MYT
Tesla CEO Elon Musk departs after taking the stand to defend Tesla Inc s 2016 deal for SolarCity in a case before the Delaware Court of Chancery in Wilmington, Delaware July 12, 2021. ― Reuters pic
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WILMINGTON, July 14 ― Elon Musk told a judge yesterday Tesla Inc had to buy SolarCity in 2016 because the failing solar panel company was essential to the electric vehicle maker s long-term goal of accelerating the transition to sustainable energy.
The celebrity chief executive completed about eight hours of testimony over two days to defend himself against a lawsuit brought by union pension funds and asset managers who allege he strong-armed Tesla directors into buying the cash-strapped SolarCity for US$2.6 billion (RM10.9 billion).
Musk defends timing of Tesla s $2 6 billion deal for SolarCity oann.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from oann.com Daily Mail and Mail on Sunday newspapers.