Civil Litigation
Feb. 28, 2019
Class action seeks to block Tesla purchase
Tesla Inc. bought energy-storage company Maxwell Technologies for $218 million, but a new class action by Maxwell’s shareholders is trying to halt that merger.
Shareholders of energy-storage company Maxwell Technologies filed a proposed class action to stop the company's $218 million sale to Tesla Inc.
The Maxwell shareholders allege the company's directors undervalued Maxwell in the sale, significantly impacting the shareholders' financial investment in the company, according to the complaint filed Tuesday. The suit also argues Maxwell's sale would not have happened without Tesla's direct...
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