Climate Changed
Musk Deposed in Class-Action Lawsuit Over Tesla SolarCity Merger
- Tesla CEO says he needed to voice his opinion on the deal
- Investors claim Musk duped them to bail out cousins’ company
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Tesla Inc. Chief Executive Officer Elon Musk said he was involved in some discussions about the $2.6 billion acquisition of SolarCity in 2016, though he recused himself from a board vote approving the initial offer.
Musk made the disclosure when he was questioned under oath by lawyers for pension and investment funds that claim he duped investors into backing the buyout of the solar-energy company that was founded by his cousins and where he was the chairman and largest shareholder.