In a lawsuit filed in San Francisco on Monday, the parties accused SolarCity of gaining undue advantage of Cogenra’s Shingling technology that helps in manufacturing high-efficiency commercially viable solarpanels.
SolarCity and its subsidiary Silevo misappropriated Cogenra’s trade secrets, manufacturing processes, and other intellectual property to give themselves a competitive advantage and head start in developing shingled-cell solar modules, Cogenra said in the lawsuit.
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Tesla Motor Inc.’s proposed acquisition of American energy services provider SolarCity Corp. - worth $2.6 billion - has run into troubled waters and could be deferred.
On Monday, Sept. 19, the company revealed that SolarCity’s acquisition could potentially be delayed as Tesla shareholders had filed lawsuits. The four lawsuits against the automaker has been filed by four different shareholders over the imminent buyout and alleges that Tesla’s board members breached fiduciary duty as revealed in a Securities and Exchange Commission (SEC) filing.
Read more "Tesla Shareholders File Lawsuit Over SolarCity Buyout"