Delaware's Supreme Court has upheld a judge’s decision in favor of Tesla CEO Elon Musk in a lawsuit challenging the electric car maker’s $2.4 billion acquisition of a solar panel company founded by two of his cousins. The court on Tuesday rejected arguments from a group of Tesla shareholders that a Chancery Court judge erred in finding that Tesla’s deal to acquire SolarCity in 2016 was “entirely fair.” The judge made that determination even while noting that the process by which Tesla’s board of directors negotiated and recommended the deal to shareholders was “far from perfect.” The Supreme Court agreed that the deal process was not “pitch perfect,” but said that overall the acquisition was fair.
