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Directors of Tesla Inc settled a shareholder lawsuit over the company’s 2016 acquisition of SolarCity Corp, leaving Chief Executive Officer Elon Musk as the lone defendant facing claims that Tesla paid $2.

6 billion for a worthless solar energy system installer, according to court documents.

The $60 million settlement comes as a 10-day trial is scheduled to start on March 16 in Delaware in which shareholders seek $2.6 billion in damages, the entire cost of the SolarCity deal.

A lawyer for Musk and a spokesman for Tesla did not immediately respond to a request for comment.

Tesla shareholders have alleged Musk breached his fiduciary duties, squandered Tesla’s assets and unjustly enriched himself by pushing to buy the money-losing solar company in which he was the biggest investor...


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Is Tesla's Elon Musk Responsible for $2.6 BILLION In Damages Over WORTHLESS SolarCity Deal? Lawsuit Says So...

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