Sept 19 Elon Musk-led Tesla Motor Inc
said on Monday its proposed acquisition of SolarCity Corp
could be delayed due to shareholder lawsuits
challenging the deal.
Four lawsuits were filed in Delaware between Sept. 1 and
Sept. 16, the company said in a regulatory filing. (bit.ly/2cMzghr)
The lawsuits allege, among other things, that both Tesla and
SolarCity board members breached their fiduciary duties in
connection with the proposed merger.
The companies have said they expect the deal to close by the
end of the year.
(Reporting by Rachit Vats in Bengaluru; Editing by Saumyadeb