Tesla’s Elon Musk settles with SEC, paying $20 million fine and resigning as board chair
Tesla and its CEO Elon Musk have agreed to pay a total of $40 million (U.S.) and make a series of concessions to settle a government lawsuit alleging Musk duped investors with misleading statements about a proposed buyout of the company.
The settlement with the Securities and Exchange Commission allows Musk to remain CEO of the electric car company but requires him to relinquish his role as chairman for at least three years.
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