TSLA stock is down nearly 8% following the release of new documents relating to Tesla Inc’s (NASDAQ:TSLA) takeover of SolarCity.
Tesla purchased the solar panel installer in 2016 for $2.6 billion USD; however, documents released today show that CEO Elon Musk was aware of financial troubles at the company, which was founded by his cousins, before making a case to investors to approve the takeover. As a result, eight furious shareholders filed a lawsuit against Tesla, which had been available to read but heavily redacted. The opening brief of the suit was released on Monday and ...
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