Tesla’s SolarCity acquisition was a bailout in disguise, lawsuit argues

A group of Tesla Inc. shareholders is suing the California-based company over the $2.6 billion acquisition of SolarCity in 2016, accusing Elon Musk and others of engineering a bailout via acquisition by Tesla.

CNBC reports that newly unredacted court documents published on Plainsite show that in 2016, shareholders filed a lawsuit to stop the SolarCity buyout. They said that Musk — along with several family members and other Tesla board members — were attempting to protect their financial interests…

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