Musk settles with SEC, to step down as Tesla Chairman; $40M in combined fines
Green Car Congress
SEPTEMBER 30, 2018
Elon Musk, CEO and Chairman of Tesla, Inc., has agreed to settle the securities fraud charge brought by the SEC against him last week. ( Earlier post.) The SEC also today charged Tesla with failing to have required disclosure controls and procedures relating to Musk’s tweets, a charge that Tesla has agreed to settle. The settlements, which are subject to court approval, will result in comprehensive corporate governance and other reforms at Tesla—including Musk’s removal as Chairman of the
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