The Delaware Court of Chancery has refused to open the books of electric carmaker Tesla Motors Inc. to a stockholder who accused the company of fabricating explanations for failing to meet its sales and production benchmarks.
In a 33-page memorandum opinion, Vice Chancellor Joseph R. Slights III said Shahid Haque’s theory that Tesla had concocted production problems to hide low consumer demand for its cars was “hard to fathom,” and the plaintiff had failed to provide any credible evidence to back up his assertions.
