Elon Musk has to pay $20 million to settle with the S.E.C.
/https%3A%2F%2Fblueprint-api-production.s3.amazonaws.com%2Fuploads%2Fcard%2Fimage%2F855058%2Fd2117b23-4472-477d-8c47-cdf2c161396a.jpg)
Elon Musk's ill-advised weed humor is going to cost him $20 million dollars and his chairmanship of Tesla, in accordance with a settlement agreement Musk and Tesla made with the the U.S. Securities and Exchange Commission.
Musk accepted the settlement on Saturday, Sept. 29, after initially rejecting a similar but less harsh settlement put forth when the SEC first announced it was suing Musk for fraud (the initial settlement called for a two-year suspension from the chairmanship and a $10 million fine).
The fraud in this case is the initial content of Musk's tweet, in which he announced that he would take Tesla private when the stock hit $420 and that he had "funding secured" to make that move. Read more...
More about Tesla, Elon Musk, Elon Musk Sec, Elon Musk Lawsuit, and Elon Musk Settlement
COntributer : Mashable https://ift.tt/2DDvlWp
Elon Musk has to pay $20 million to settle with the S.E.C.
Reviewed by mimisabreena
on
Sunday, September 30, 2018
Rating:
Reviewed by mimisabreena
on
Sunday, September 30, 2018
Rating:
No comments:
Post a Comment