Tesla Chief Executive Officer Elon Musk did not breach his fiduciary duty to the electric vehicle maker in 2016 when it acquired SolarCity Corp, where Musk was chairman and the largest shareholder, a Delaware judge ruled on Wednesday.
Tesla shareholders had accused Musk of coercing Tesla's board into buying SolarCity, a struggling rooftop solar panel maker, to rescue his investment, and had sought up to US$13 billion in damages. Musk is tapping his vast fortune to acquire Twitter Inc, which accepted his US$44 billion offer on Monday.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: