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Advertisers and pensioners leading the case say Tesla CEO Elon Musk and the company’s committee violated their religious duties after agreeing to buy SolarCity.
Elon Musk managed to control it by completing his second and final day of inquiry into SollaCity’s acquisition of Tesla Inc.
Musk, the first and foremost witness in the case, usually spoke to a defense lawyer for about eight hours at the witness stand. But there was no time for performances from one of the most outspoken officials.
The world’s richest man was the chairman and shareholder of both companies at the time of the deal, and the auditors look at how he worked to force his team, as well as shareholders, to agree.
Advertisers and pensioners leading the case allege that the Musk and Tesla factions violated their religious activities by agreeing to purchase what was then a strong roof. Musk is the only defendant. Both set up $ 60 million last year.
The trial is expected to take two weeks. If Musk wins, and the judge finds the agreement valid, it will be another example of Teflon Elon in particular escaping the consequences. If he loses, Musk could be ordered to dig into his pocket to repay the $ 2 billion Tesla released to SolarCity. It may also be one of the most famous in the history of the world.
Randy Baron, the plaintiffs ‘attorney, spent a lot of time Tuesday pressuring Musk about his role in negotiating a SolarCity deal and played video footage of the investors’ $ 2 billion deal.
Musk was usually very quiet but frustrated at being questioned. “Your questions are tricky and stupid,” Musk said at one point.
In a statement on Monday, Musk said he had not participated in the committee’s deliberations on the SolarCity deal, but Baron said on Tuesday he had hired lawyers to improve the deal, even though Tesla’s party at the time was not interested. The billionaire also holds weekly meetings to promote the necessary efforts needed to find SolarCity.
Musk did not like the way Baron described the meetings – which did not include committee members – as the “cabal” of investors and lawyers.
“You have a habit of using the wrong language,” Musk said. “You are trying to plot another. It’s not good. ”
Tesla would have found the price even if he had bought SolarCity and closed it, Musk said.
“$ 3 billion is 50 percent higher than what we gave,” Musk said. “Even if we bought SolarCity and closed it completely, we would still be able to raise $ 3 billion for $ 2 billion. This is not helpful. ”
Musk joined Baron on Monday, calling him a “bad guy.” He also expressed surprise, including saying that he did not want to become CEO.
Kimbal Musk, Musk’s brother, is the next witness to testify. Kimbal Musk is owned by Tesla and SpaceX.
The case is known as a shareholder, while the shareholders are acting to protect the company. If the suit goes well, the money goes to Tesla, not to its shareholders.
While Musk is often followed by Tesla and SpaceX fans wherever they go, there were few signs of his followers in court in Wilmington, Delaware this week. One man watched the case in a “Occupy Mars” t-shirt, but otherwise the audience was few. The case was postponed to Tuesday for two hours because someone had vomited in court.
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