In 2018, federal regulators charged Musk with securities fraud a few potential effort to take Tesla personal. The Securities and Change Fee alleged {that a} “sequence of false and deceptive tweets” precipitated Tesla’s inventory worth to leap greater than 6 p.c that day and considerably disrupted the market. Musk and Tesla in the end reached a settlement with the SEC, with every paying a $20 million penalty, and Musk having to relinquish his chairman title for 3 years.
https://www.washingtonpost.com/enterprise/2021/11/08/tesla-stock-elon-musk/?utm_source=rss&utm_medium=referral&utm_campaign=wp_business | Tesla inventory slides after Elon Musk asks Twitter if he ought to promote 10 p.c of his shares