Court Allows $40 Million Deal Between Elon Musk and SEC
A federal judge yesterday approved the Tesla CEO’s settlement with the Securities and Exchange Commission over its recent ruling that he misled investors in August by claiming the electric carmaker had secured funding and was going private. The agreement — which allows Musk to resolve the matter without admitting wrongdoing, but also requires Tesla to replace the controversial chairman within 45 days — was approved despite his recent tweets insulting the SEC. It also requires Tesla to appoint a lawyer to sign off on Musk’s future tweets.
