NEW YORK, Aug. 4, 2016 /PRNewswire/ -- Bernstein Liebhard
LLP is investigating whether the Board of Directors of Tesla
Motors, Inc. ("Tesla" or the "Company") (NASDAQ: TSLA) breached
their fiduciary duties to the Company and its shareholders in
connection with Tesla's proposed acquisition of SolarCity
Corporation ("SolarCity").
On August 1, 2015, the two
companies announced the signing of a definitive merger agreement
pursuant to which Tesla will acquire SolarCity. Under the
terms of the agreement, SolarCity shareholders would receive 0.11
shares of Tesla common stock for each share of SolarCity common
stock, which is an equivalent value of $25.83 per share based on Tesla's closing price
on July 29, 2016.
The investigation concerns, among other things, whether Tesla is
overpaying for SolarCity and/or failed to adequately protect Tesla
and its shareholders in connection with the deal.
If you are interested in discussing your rights as a Tesla
shareholder, and/or have information relating to the matter, please
contact Seth Ottensoser at (877) 779-1414
or ottensoser@bernlieb.com.
Bernstein Liebhard LLP has pursued hundreds of securities,
consumer and shareholder rights cases and recovered over
$3.5 billion for its clients.
The Firm has been named to the National Law Journal's "Plaintiffs'
Hot List" thirteen times.
Bernstein Liebhard LLP
10 East 40th Street
New York, New York 10016
(877) 779-1414
www.bernlieb.com
ATTORNEY ADVERTISING. © 2016 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Seth Ottensoser
Bernstein Liebhard LLP
http://www.bernlieb.com
(212) 779-1414
ottensoser@bernlieb.com
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SOURCE Bernstein Liebhard LLP