Adam Varga + 123 AV October 16, 2018 A federal judge approved a settlement between SEC, Tesla and its CEO Elon Musk. The settlement follows an investigation last month by the SEC last month to look into a Musk tweet from August that said he had secured funding to take Tesla private at $420 per share. The settlement requires Musk to step down as a chairman and pay a $20 million civil penalty. Tesla will also have to pay a separate $20 million fee. Best part of this settlement - Tesla will establish a new committee of independent directors and put in place additional controls and procedures to oversee Musk’s communications. Quote Share this post Link to post Share on other sites
BlackTortoise + 103 CM October 16, 2018 13 minutes ago, Adam Varga said: A federal judge approved a settlement between SEC, Tesla and its CEO Elon Musk. As was expected. Quote Share this post Link to post Share on other sites
Vlad Kovalenko + 115 VK October 16, 2018 I love how Musk mocks stupidity. The SEC lawsuit can certainly be seen as a facade with stock manipulation as its true intent. Quote Share this post Link to post Share on other sites
Adam Varga + 123 AV October 16, 2018 TSLA up 4%. Makes sense. After Elon threw that insult at the SEC after agreeing to the settlement people were worried that the judge might decide the settlement wasn't having the intended effect of making Elon regret his careless tweeting habits. Good to know they were worried with no reason. Quote Share this post Link to post Share on other sites
Brian W + 78 BW October 16, 2018 So this settlement requires him to get approval from a securities lawyer for every tweet before posting. Parental controls are set to on. Quote Share this post Link to post Share on other sites
Stormysaga + 62 AB October 16, 2018 Good day for Elon Musk and Tesla. Bad day for justice. The judge has now affirmed that we live in a world where the SEC has green light to inflict substantial damage to long investors while protecting the interests of short selling manipulators. 1 Quote Share this post Link to post Share on other sites
Vlad Kovalenko + 115 VK October 16, 2018 Now we can get the focus where it belongs, top selling cars, revolutionizing the auto industry and driving the transition to clean energy production. Quote Share this post Link to post Share on other sites