Elon Musk reached a settlement today with the Securities and Exchange Commission (SEC) on a charge of securities fraud. Within the next 45 days, Musk will have to step down as chairman of Tesla and will be ineligible to return to that post for the next three years. However, Musk can continue in his role as the company’s CEO. Additionally, Tesla was charged with “failing to have required disclosure controls and procedures relating to Musk’s tweets”—a matter which it promptly settled.
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