Wednesday, October 8, 2025
  • Login
CEO North America
  • Home
  • News
    • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
No Result
View All Result
  • Home
  • News
    • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
No Result
View All Result
CEO North America
No Result
View All Result

CEO North America > News > Elon Musk agrees with SEC

Elon Musk agrees with SEC

in News
- Elon Musk agrees with SEC
Share on LinkedinShare on WhatsApp

Musk agrees to step down as chairman of Tesla and a $20 million fine.

During the last week of September, CEO Elon Musk was sued by the Securities and Exchange Commission (SEC) for fraud.

This because the SEC said Musk was “false and misleading” in his August tweet that read:

“Am considering taking Tesla private at $420,” Musk said. “Funding secured.”

The SEC assured that Musk had not actually secured the funding at the time of the tweet. The agency said in its complaint:

“In truth and in fact, Musk had not even discussed, much less confirmed, key deal terms, including price, with any potential funding source.”

Agreement reached

Now, Musk has agreed to step down as chairman of Tesla and pay a $20 million fine in a deal to settle charges brought this week by the Securities and Exchange Commission.

According to court filings, Musk will be allowed to stay as CEO of Tesla, but he must leave his role as chairman of the board within 45 days. He will not be able to seek reelection for 3 years.

“The $40 million in penalties will be distributed to harmed investors under a court-approved process,” the SEC said in a press release.

A court document added Musk accepted the deal “without admitting or denying the allegations of the complaint”, however, Musk called the SEC’s suit “unjustified.”

He later stated: “I have always taken action in the best interests of truth, transparency and investors (…) Integrity is the most important value in my life and the facts will show I never compromised this in any way.”

Tags: ChairmanChief Executive OfficerElon MuskSECTesla

Related Posts

Beijing calls tariffs “blackmail”
News

China tipped to grow by 4.8% despite tariff pressures

AMD and OpenAI announce strategic partnership
News

AMD and OpenAI announce strategic partnership

Verizon’s Profit Falls 23% as Price Increases Slow Growth
News

Verizon names Dan Schulman as new CEO

French stocks tumble as PM resigns after 27 days
News

French stocks tumble as PM resigns after 27 days

WestJet and mechanics reach deal to end disruptive strike
News

Tesla video sparks speculation of new mass market vehicle

Job Openings Fell in May as Demand for Workers Remains Strong
News

Jobs Report delayed due to government shutdown

Bezos comments on AI industry ‘bubble’
News

Bezos comments on AI industry ‘bubble’

Goldman Sachs reports 22% jump in profits
News

Goldman Sachs CEO forecasts acceleration in the U.S. economy

Elon Musk calls for resignation of FAA chief
News

Forbes reports Elon Musk as first person to hit $500 billion net worth

Trump joins top tech CEOs to announce giant AI infrastructure project
News

OpenAI Valuation reaches $500 Billion

No Result
View All Result

Recent Posts

  • Nicole A. Kivisto, President and CEO of MDU Resources, sits down with CEO North America Magazine to share the company’s CORE strategy
  • AMD and OpenAI announce strategic partnership
  • China tipped to grow by 4.8% despite tariff pressures
  • Trilogy Metals shares explode 200% following Trump announcement
  • Business Ethics in Finance: Lessons From the Wells Fargo Scandal

Archives

Categories

  • Art & Culture
  • Business
  • CEO Interviews
  • CEO Life
  • Editor´s Choice
  • Entrepreneur
  • Environment
  • Food
  • Health
  • Highlights
  • Industry
  • Innovation
  • Issues
  • Management & Leadership
  • News
  • Opinion
  • PrimeZone
  • Printed Version
  • Technology
  • Travel
  • Uncategorized

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

  • CONTACT
  • GENERAL ENQUIRIES
  • ADVERTISING
  • MEDIA KIT
  • DIRECTORY
  • TERMS AND CONDITIONS

Advertising –
advertising@ceo-na.com

110 Wall St.,
3rd Floor
New York, NY.
10005
USA
+1 212 432 5800

Avenida Chapultepec 480,
Floor 11
Mexico City
06700
MEXICO

  • News
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life

  • CONTACT
  • GENERAL ENQUIRIES
  • ADVERTISING
  • MEDIA KIT
  • DIRECTORY
  • TERMS AND CONDITIONS

Advertising –
advertising@ceo-na.com

110 Wall St.,
3rd Floor
New York, NY.
10005
USA
+1 212 432 5800

Avenida Chapultepec 480,
Floor 11
Mexico City
06700
MEXICO

CEO North America © 2024 - Sitemap

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.