USA judge approves SEC settlement with Musk

Elon Musk

Elon Musk confirmed that the chip, which was announced last December with the codename "hardware 3", will increase the autonomous driving performance of their vehicles by anywhere between 500 percent to 2000 percent.

However, Mr. Musk refuted the claims of FT's report stating that they were not true but refusing to comment any further.

And because it's Musk, he also tweeted about it. The company is not going private. As retribution, Tesla will pay $20 million and Musk will pay $20 million. The agency moved with unusual speed, questioning Musk, Tesla's board and other executives.

Musk also shot off a sarcastic tweet last Thursday to the SEC, just hours after Judge Alison Nathan with the U.S. District Court, Southern District of NY, ordered him and the SEC to explain why their settlement was fair and reasonable.

In addition, Tesla needs to create a system where Musk's communications to the public are monitored, including social media platforms and Twitter blog posts.

The SEC filed charges against Musk on September 27, just hours after reports said Musk had rejected an initial settlement offer from the agency.

"Just want to that the Shortseller Enrichment Commission is doing incredible work", Musk, a frequent critic of the investors who have bet against the company, wrote. "And the name change is so on point!"

Tesla and Musk, the company's CEO, agreed to pay a total of $40 million in fines in the settlement Tuesday. Musk also took to Twitter to share a picture of his Teslaquila bottle. Two new independent directors will be recruited to join Tesla's board of directors. The company needs to actually be making a product to obtain the trademark.



Latest news

Chelsea's Eden Hazard: I want to work with Jose Mourinho again
The Belgian did, however, note how unpleasant the final season with the Portuguese at Stamford Bridge was too. Eden Hazard has blossomed under new manager Maurizio Sarri and is in terrific form this season.

Brexit: Irish say United Kingdom places new terms on border
The issue of the border between Northern Ireland and Ireland is one of the last remaining obstacles to achieving a divorce deal. Speaking to MPs in the Commons on Monday, the Prime Minister said there are still issues surrounding the Irish border question.

Whirlpool says Sears bankruptcy will have 'very limited' impact
Sears already decimated stock tanked further Monday, closing at 31 cents per share, down about 24 percent. The one major upside at Sears liquidation sales is that absolutely everything in stores is marked down.

Erdoğan, Saudi King discuss Khashoggi case over phone
On October 2, Jamal Khashoggi entered the Saudi consulate in Istanbul to retrieve a document related to his upcoming wedding. It is still unclear whether US Treasury Secretary Steve Mnuchin will attend the conference.

Other news