Tags: tesla | elon musk | sec | deal | cnbc

CNBC: Elon Musk Rejected SEC Offer of Fine, Giving Up Tesla Chair

Closeup of Elon Musk Twitter Profile and Picture
(Mano Kors/Dreamstime)

Friday, 28 September 2018 09:28 AM

Tesla Inc.'s Elon Musk refused to pay a nominal fine and give up the role of chairman for two years as part of a settlement with the U.S. Securities and Exchange Commission, CNBC reported on Friday, citing sources.

The settlement would also require Tesla to appoint two new independent directors, CNBC reported.

Musk reportedly refused to sign the deal as he felt by settling he would not be truthful to himself and he wouldn't have been able to live with the idea that he agreed to accept a settlement and any blemish associated with that, the report said.

Tesla (TSLA) did not immediately respond to a request for comment.

© 2018 Thomson/Reuters. All rights reserved.

   
1Like our page
2Share
Companies
Tesla Inc.'s Elon Musk refused to pay a nominal fine and give up the role of chairman for two years as part of a settlement with the U.S. Securities and Exchange Commission, CNBC reported on Friday, citing sources.
tesla, elon musk, sec, deal, cnbc
109
2018-28-28
Friday, 28 September 2018 09:28 AM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved