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Elon Musk returns to court for after heated 1st day of trial defending Tesla’s SolarCity purchase

WILMINGTON, Del.— Tesla Inc.
TSLA,
-1.57%

Chief Govt Elon Musk confronted one other day of grilling over the automobile maker’s buy of SolarCity Corp. as attorneys for plaintiffs on Tuesday aimed to point out he was closely concerned and helped set the worth for the struggling vitality firm.

Mr. Musk’s testimony, typically feisty, marked the second straight day he took the witness stand within the nonjury trial on the Delaware Court docket of Chancery. A bunch of shareholders allege that Mr. Musk managed the 2016 deal whereas having a monetary curiosity in each corporations, that a lot of its administrators have been conflicted and that Tesla overpaid for SolarCity. Mr. Musk has stated he didn’t dictate the deal course of or worth and recused himself from the shareholder vote.

Mr. Musk once more dueled with the plaintiffs’ lawyer, Randall Baron, objecting to the lawyer’s solutions that he “co-opted” Tesla’s executives to work on the deal exterior of his board of administrators’ oversight. Mr. Musk later stated the lawyer “shot himself within the foot” as the 2 males argued over Photo voltaic Metropolis’s share worth on the time of the deal.

This testimony got here after a heated first day throughout which he took goal at opposing counsel, whereas additionally arguing he didn’t act improperly throughout the negotiating course of.

An expanded version of this article appears on WSJ.com.

Fashionable tales from WSJ.com:

https://www.marketwatch.com/story/elon-musk-returns-to-court-for-after-heated-1st-day-of-trial-defending-teslas-solarcity-purchase-11626196863?rss=1&siteid=rss

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