Lawsuits could delay $2.6 billion merger between Tesla, SolarCity
Elon Musk said Monday Tesla’s proposed acquisition of SolarCity could be delayed due to shareholder lawsuits challenging the deal. Lawsuits filed in Delaware allege both Tesla and SolarCity board members breached their fiduciary duties in connection with the proposed $2.6 billion merger.
Tesla’s shares fell 11% as of Friday’s close on skepticism that the company’s shareholders could shoot down the deal.
Originally published at SocialUnderground.