Testifying for a second day, Tesla Chief Executive Elon Musk pushed back again Tuesday against a lawsuit that blames him for engineering
Under questioning by Baron, Musk acknowledged that he had recommended an acquisition price of $28.50 a share. But he said this figure merely reflected what he called a standard practice of offering a 30% premium on a target company’s average stock price over the previous four weeks. The long-running shareholder lawsuit asserts that Musk, who was SolarCity’s largest stakeholder and its chairman, and other Tesla directors breached their fiduciary duties in bowing to Musk’s wishes and agreeing to buy the company. In what the plaintiffs call a clear conflict of interest, SolarCity had been founded by Musk and two of his cousins, Lyndon and Peter Rive.
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the pissing contest ensues w relish. All parties strutting forth.
Attacking lawyers isn't the best idea