Article 3ZTKE Elon Musk and Tesla to pay $40m to settle SEC case over tweets

Elon Musk and Tesla to pay $40m to settle SEC case over tweets

by
Lin Jenkins
from Technology | The Guardian on (#3ZTKE)
  • Musk will step down as Tesla chair but stay as CEO
  • Billionaire sent tweet about taking company private

Elon Musk is to step down as chair of Tesla for three years and pay a fine after reaching a deal with the US financial regulator over tweets he made about taking the firm into private ownership.

Under the settlement Musk would remain as chief executive but must leave his other post within 45 days. Both he and the company will each pay a $20m (15.3m) fine.

Continue reading...
External Content
Source RSS or Atom Feed
Feed Location http://feeds.theguardian.com/theguardian/technology/rss
Feed Title Technology | The Guardian
Feed Link https://www.theguardian.com/us/technology
Feed Copyright Guardian News and Media Limited or its affiliated companies. All rights reserved. 2024
Reply 0 comments