Elon Musk’s Settlement With SEC Over Tweets Approved by U.S. Judge
- Penalty imposed after Musk claims of Tesla going private
- SEC says deal would be in best interest of harmed investors
Elon Musk, co-founder and chief executive officer of Tesla Inc.
Photographer: Carla Gottgens/BloombergThis article is for subscribers only.
A U.S. judge approved Tesla Inc. and Chief Executive Elon Musk’s $40 million settlement with the U.S. Securities and Exchange Commission, resolving government claims that Musk misled the public with a flurry of tweets about a plan to take the company private.
U.S. District Judge Alison Nathan in Manhattan signed off on the accord Tuesday after the electric-car maker, Musk and the regulatory agency said in a detailed joint filing that the deal was in the best interest of investors. The company will pay $20 million and Musk will also pay $20 million.