Elon Gets Sued By Shareholders Over Solar City Acquisition Today I want to talk about the lawsuit between Elon and Tesla shareholders over the Solar City acquisition.
First off, let’s talk about Solar City.
Solar City was founded in 2006 by Peter and Lyndon Rive, both cousins of Elon Musk. They focused heavily on door-to-door sales of leased systems. Under this model customers paid nothing upfront but agreed to purchase power generated from said panels for 20 years; and often received a discount relative to their previous power price.