Several investors in Tesla Motors Inc shares filed lawsuits in Delaware for certain current investors in NASDAQ:TSLA shares in connection with the takeover of SolarCity by Tesla Motors.

Investors who purchased shares of Tesla Motors Inc (NASDAQ: TSLA) have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 – 1554.

In June 2016, Tesla Motors, Inc. proposed to the Board of Directors of SolarCity Corporation a potential acquisition of SolarCity by Tesla Motors.
Several lawsuits were filed in Delaware over alleged breaches of fiduciary duties by certain Tesla Motors directors. More specifically, the plaintiffs claim that certain members of Tesla Motors Inc’s board of directors breached their fiduciary duties in connection with the SolarCity acquisition. The plaintiffs allege that Tesla Motors Inc has offered to pay too much for allegedly failing SolarCity Corporation in a conflicted transaction that could weaken Tesla Motors Inc and jeopardize its shareholder value. Furthermore, the plaintiffs claim that if SolarCity fails, certain Tesla and SolarCity directors, including Elon Musk and his family and friends, will lose motions of dollars that they invested in SolarCity Corporation and in order to prevent these loses Elon Musk, Tesla Motors’ CEO, Chairman and controlling stockholder, and the other Tesla Motors Inc and SolarCity Corporation directors forced Tesla Motors Inc to acquire SolarCity Corporation. The plaintiffs claim that Elon Musk, and his family and friends will collect nearly $1 billion of SolarCity Corporation’s purported $2.6 billion equity value while saddling Tesla Motors Inc with more than $3 billion of SolarCity Corporation’s debt.

Those who purchased NASDAQ: TSLA shares should contact the Shareholders Foundation, Inc. by e-mail at [email protected] or call +1 (858) 779-1554.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
[email protected]

The post NASDAQ:TSLA Investor Notice: Lawsuit over Takeover of SolarCity by Tesla Motors Inc filed appeared first on GroundReport.