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Musk defends Tesla’s SolarCity deal in US shareholder trial

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AFP

New York (AFP) – Tesla chief Elon Musk defended the electric car maker’s controversial 2016 acquisition of SolarCity Monday at the start of a trial on whether the billionaire put his own interests ahead of investors. Musk told a Delaware court that he was not enriched by the Tesla-SolarCity deal and that he did not inappropriately pressure fellow board members to greenlight the transaction, according to CNBC. A group of Tesla shareholders contends that Musk, who was chairman of both Tesla and SolarCity at the time of the transaction, “poisoned” Tesla’s ability to fairly evaluate the purchase, …

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