Which the companies expect to close by the end of the year.
Elon Musk-led Tesla Motor TSLA 0.46% said on Monday its proposed acquisition of SolarCity SCTY -1.54% could be delayed due to shareholder lawsuits challenging the deal.
The company said four lawsuits were filed in Delaware between Sept. 1 and Sept. 16 and a potential injunction on the proposed $2.6 billion merger could delay the closing of the deal.
The lawsuits allege, among other things, that both Tesla and SolarCity board members breached their fiduciary duties in connection with the proposed $2.6 billion merger, which the companies expect to close by the end of the year.
As of Friday’s close, SolarCity shares were trading at a 31% discount to Tesla’s stock swap offer, which valued SolarCity shares at $25.37 on Aug 1.