Tesla CEO Elon Musk is fined 20 million dollars and resigns as chairman of the board in dealing with the company.
According to this report, Musk remains in Tesla's CEO. For related transactions announced on Saturday, we need to pay Tesla an additional 20 million dollars. Furthermore, according to the statement of the SEC, the regulations include the following requirements.
- Mr. Musk is appointed Chairman of the Board of Directors of the Independent Committee Chairman and can not reelect for three years.
- Tesla appoints two independent directors.
- Tesla will establish a new committee with independent directors and will establish additional controls and procedures to oversee musk communications.
- As a part of the process approved by the court, a total of $ 40 million fine is paid to the injured investor.
Tweets on August 7 He said he hired a private company for 22 million supporters. Later, he supported the statement.Until Thursday
"The published statement and abbreviated Musk's false misunderstandings caused serious turmoil and confusion to the Tesla stock market and the resulting investor's damage," the SEC said.
Prosecution of the authorities was aimed at prohibiting Musk 'acting as an officer or director of an issuer having a class of securities registered pursuant to Article 12 of the Law ".
Musk and Tesla now resolve the accusations of the SEC without admitting the agency's claim or denying it.
"All corrective actions and corrective actions announced today are specially designed to improve the problem flaws by strengthening Tesla's corporate governance and enhancing monitoring to protect investors. .
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Tesla's Elon Musk reconciles with the SEC and leaves as a board chair and pays $ 20 million
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