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Musk Defeats Investor Claims That Tesla’s SolarCity Deal Was Improper

  • Judge finds buyout of solar-power provider was at fair price
  • Musk’s involvement in $2.6 billion deal criticized in ruling
Elon Musk
Elon MuskPhotographer: Joshua Lott/Getty Images
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Tesla Inc. co-founder Elon Musk won a battle against shareholders as a judge found the billionaire didn’t improperly force fellow directors to accept an overpriced buyout of SolarCity.

The decision Wednesday by Delaware Chancery Court Judge Joseph Slights III spares the world’s richest person, currently on course to buy Twitter Inc. for $44 billion, from handing over as much as $13 billion in Tesla shares he got as part of the company’s 2016 buyout of the struggling solar power provider. At the center of the dispute was whether Musk improperly influenced Tesla directors to agree to the $2.6 billion acquisition.