Musk and the company are paying $ 20 to 20 million in penalties, as the CEO has published a misleading message on Twitter about the company's stock price, the US Stock Exchange (SEC) reported on the details of the agreement.
Under the agreement between SEC and Tesla, Musk has to resign from the board of directors within 45 days and is not re-elected for three years, but he remains the company's CEO. Based on the bargain, Tesla has to elect two independent members to the board.
On August 7, Musk announced to the world, without any prior announcement, that he was considering withdrawing from the stock market at a $ 420 share price, and that the necessary resources were provided. As a result of the message, Tesla's share price rose by more than ten percent.
A few weeks later, it was proved that neither the stock exchange plan was real nor the money. The SEC therefore turned to the court this week because it considered that Musk's message lacked any foundation and harmed investors.
The SEC also initially wanted the court to forbid Musk from managing the company, but in the Sabbath Agreement, the authority passed it. This would, according to the investors, cause enormous damage to the otherwise loss-making Tesla year after year, whose name almost coincided with Elon Musk.
The company was told by the SEC that the company practically had no control over what messages Musk posted on Twitter, whether it contained information that had to be officially notified to the supervisor, or that what he wrote was correct. is it at all.
Tesla and Musk have not yet reacted to the agreement announced by the SEC.
(Source: vezess.hu / photo: pixabay.com)
