A federal judge on Tuesday approved a deal struck between Tesla Inc Chief Execut...
FILE PHOTO: Tesla Inc. CEO Elon Musk exits after attending a S.E.C. hearing at the Manhattan Federal Courthouse in New York, April 4, 2019. REUTERS/Eduardo Munoz
U.S. District Judge Alison Nathan in Manhattan approved the deal worked out on Friday that settled the dispute in which the SEC had sought to find Musk in contempt of a securities fraud settlement last year.The new deal lays out in more detail what types of statements by Musk must be reviewed by Tesla’s legal counsel before publication, such as financial statements, previously unreported production or delivery numbers, and other topics.
The SEC sued Musk last year for making fraudulent statements after he tweeted on Aug. 7 that he had “funding secured” to take Tesla private at $420 per share.
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