Tesla board, minus Musk, gets court OK for SolarCity settlement

Tesla CEO Elon Musk speaking at an event — Musk has said the chip shortage is one of the most difficult supply chain challenges Tesla has experienced. (BLOOMBERG/Bloomberg)

By:

Bloomberg

August 17, 2020 07:33 PM

Tesla Inc. directors, with the notable exception of CEO Elon Musk, won court approval for a $60 million settlement of derivative claims by shareholders who say they were defrauded when the electric vehicle maker acquired another Musk-affiliated company, SolarCity, for $2 billion in 2016.

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