Tesla investors urge judge to order Musk repay US$13 billion for SolarCity deal

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Tesla investors urge judge to order Musk repay $13 billion for SolarCity deal

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WILMINGTON, Delaware: Tesla shareholders urged a judge on Tuesday to find Elon Musk coerced the company's board into a 2016 deal for SolarCity and asked that the chief executive be ordered to pay the electric vehicle company one of the largest judgments ever of US$13 billion.

The lawsuit by union pension funds and asset managers alleges that Musk strong-armed the Tesla board into approving the deal for the cash-strapped SolarCity, in which Musk was the top shareholder. Shareholder attorney Lee Rudy urged Vice Chancellor Joseph Slights of Delaware's Court of Chancery to order Musk return the Tesla stock he received, which would be worth around US$13 billion at its current price.

"It would be a windfall for Elon Musk if he got to keep shares he never should have gotten in the first place," Rudy said.

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