musk: The US Securities and Exchange Commission announced the settlement just two days after filing a case seeking to oust Musk as CEO. The probe was started after Musk tweeted August 7 that he could take the company private for US 240 a share and that funding for such a deal had been secured, according to Nine News Australia. Elon Musk steps down as Tesla chairman, but remains CEO AAP In truth, Musk knew that the potential transaction was uncertain and subject to numerous contingencies, wrote the SEC, which had filed fraud charges earlier this week. To improve your experience update it here News World Elon Musk steps aside as Tesla agrees to 40m fine8 19am Sep 30, 2018Facebook Tweet MailUS carmaker Tesla has agreed to pay a US40 million A55.37m fine and have founder Elon Musk step down as chairman for misleading tweets about stock prices. It noted that the tweets caused significant market disruption. Under the deal, the new chairman of the board will be required to better supervise communications by Musk, who can remain as chief executive of the company famous for a range of highly coveted electric cars. According to the SEC statement, neither Musk nor Tesla admit any wrongdoing.
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