Tesla CEO and space X founder Elon Musk. Credit:Naresh777/Shutterstock.com Slights Finds Elon Musk's Deal for SolarCity was Fair but 'Far From Perfect'
Musk was more involved than he should have been, Slights found, but the deal was properly vetted and the entrepreneur hadn't stood in the board's way, meaning the deal came in at a fair price.
April 28, 2022 at 10:08 AM
2 minute read
Cases and Courts
The original version of this story was published on Delaware Business Court Insider
Tesla shareholders didn't prove at trial Elon Musk breached his fiduciary duties in the company's 2016 acquisition of SolarCity Corp., Vice Chancellor Joseph R. Slights III has found.
In a 132-page opinion issued Wednesday, Slights ruled in favor of Musk and Tesla's board on all claims, which were covered in an 11-day trial in July 2021 and post-trial argument in January, with attorneys from Cravath, Swaine & Moore; Ross Aronstam & Moritz; and Potter Anderson & Corroon representing the Tesla defendants.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
5th Circuit Strikes Down Law Barring Handgun Sales to Adults Under 21
Read the Document: DOJ Releases Ex-Special Counsel's Report Explaining Trump Prosecutions
3 minute read Special Counsel Jack Smith Prepares Final Report as Trump Opposes Its Release
4 minute readLaw Firms Mentioned
Trending Stories
- 1Inside Track: Cooley's Modest Proposal to Make Executives Safer
- 2Justified Termination Does Not Bar Associate Attorney From Unemployment Benefits, State Appellate Court Rules
- 3Effective Termination Strategies in Today’s Troubled Condo Market
- 4AI and Land Use—a Perfect Match in Real Estate Heaven
- 5New Atlanta Litigation Firm Breaks Away From Swift Currie
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
