October 01, 2018 BY Valentina Kirilova

Musk to step down as Tesla’s Chairman, agrees to pay $40 million in penalties

The Securities and Exchange Commission (SEC) has announced that Elon Musk, CEO and Chairman of Silicon Valley-based Tesla, Inc. (NASDAQ:TSLA), has agreed to settle the securities fraud charge brought by the SEC against him last week. The SEC has also charged Tesla with failing to have required disclosure controls and procedures relating to Musk’s tweets,…

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