Elon Musk To Step Down As Tesla Chairman After SEC Settlement

After three years, Tesla chief executive will bow out as chairman and pay a $20 million fine after a deal was struck with the Securities and Exchange Commision in regards to a securities fraud case. The deal comes just two days after the SEC filed a lawsuit against Musk for fraud and misleading investor investors about a buyout of the popular electric car company when he tweeted “Am considering taking Tesla private at $420. Funding secured.” In the new deal, Musk will…

from Deadline https://ift.tt/2xUycFh

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