Investors and pension funds leading the lawsuit allege that Tesla CEO Elon Musk and the company’s board of directors violated their fiduciary duties when they agreed to acquire SolarCity.

Elon Musk managed to control his temper, because he ended the second and final day of severe doubts about Tesla’s 2016 acquisition of SolarCity.

Musk was the first and most central witness in this case. He often quarreled with the plaintiff’s lawyer in the witness box for about eight hours. But one of the most outspoken CEOs has no dramatic moments.

At the time of the transaction, the world’s second-richest man was the chairman and largest shareholder of the two companies. The center of the trial was how much he played in promoting the board of directors and shareholders to approve the transaction.

Investors and pension funds leading the lawsuit allege that Musk and Tesla’s board of directors violated their fiduciary duties when they agreed to acquire the troubled rooftop solar panel installer. Musk is the only defendant. The other members of the board settled with 60 million U.S. dollars last year.

It is estimated that the trial will take two weeks in total. If Musk wins, if the judge finds that the transaction is a legal transaction, this will be another example of Teflon Elon’s evasion of consequences to a large extent. If he loses, Musk may be ordered to pay out of his pocket and return the approximately $2 billion that Tesla paid for SolarCity. This will also dampen his reputation as a tech giant who almost always does whatever he wants.

Plaintiff’s lawyer Randy Baron (Randy Baron) spent most of Tuesday pressured Musk to play a role in negotiating the price of SolarCity and broadcasted the bankers involved in the $2 billion transaction. Video footage of the testimony.

Musk remained calm to a large extent, but was obviously frustrated with the line of questions. “Your question is too deceptive and stupid,” Musk once said.

In Monday’s testimony, Musk stated that he had hardly participated in the board’s consideration of the SolarCity transaction, but Baron pointed out on Tuesday that although Tesla’s board was not interested in it at the time, he had hired a lawyer to guide the transaction. The billionaire also holds weekly meetings to speed up the due diligence work required to acquire SolarCity.

Musk doesn’t like Baron’s description of the meeting (excluding board members) as a “cabal” of bankers and lawyers.

“You have a habit of using inaccurate language,” Musk said. “You are trying to create some kind of conspiracy. This is not good.”

Musk said that even if Tesla acquired SolarCity and shut it down, it would benefit from the deal.

“The cash flow of $3 billion is 50% higher than the amount we paid,” Musk said. “Even if we simply acquired SolarCity and shut it down completely, we would get $3 billion in cash flow at a price of $2 billion. This makes no sense.”

On Monday, Musk repeatedly entangled with the Baron, calling him a “bad guy.” He also made some surprising statements, including saying that he did not like being CEO.

Musk’s younger brother Kimbal Musk is the next witness to testify in court. Kimbal Musk is a member of the board of directors of Tesla and SpaceX.

This case is a so-called shareholder derivative lawsuit, that is, shareholders take action to protect the company. If the lawsuit is successful, the proceeds will go to Tesla, not to the shareholders who filed the lawsuit.

Although Musk is often followed by enthusiastic fans of Tesla and SpaceX wherever he goes, there were few signs of supporters in the court in Wilmington, Delaware this week. A man watched the trial wearing a “Occupy Mars” T-shirt, but other than that, there were very few viewers. Because someone vomited in court, Tuesday’s trial had to be suspended for two hours.


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