Tesla shares jump after Musk settles with SEC

SEC Lawsuit Against Musk Wiped $7.3 Billion From Tesla’s Market Value

The electric vehicle maker's shares sank last week after the US Securities and Exchange Commission accused Musk of securities fraud, opening up the prospect of a long fight that could have seen Tesla lose its leader, and undermined its ability to raise capital and increase production.

The settlement, reached on Saturday, comes after Musk initially rejected the charges, claiming they were "unjustified".

Tesla has recently navigated numerous resignations among senior staff and a now-settled lawsuit with the SEC over insider trading following CEO Elon Musk's Twitter-induced manipulation of the stock price.

Initially, Musk was ready to accept SEC's proposed settlement that stipulated he would step down as chairman for two years and pay between $5-10 million as a fine. Tesla will also name two new, independent directors to its board. But Musk has pledged to post profits in future quarters.

However, Musk has agreed to a condition where he will not admit nor deny if he was guilty of committing the securities fraud.

Europe take 10-6 lead into final day as favourites fold
At one point, they made six out of eight birdies on the back nine, and only one person was in the hole at a time. His record in fourballs and foursomes, when he goes out with a partner, is an ugly 9-19-1.

Looks like one careless tweet has costed Musk dearly! The second is a series of class-action lawsuits filed by investors who say they lost money due to the market volatility after Musk's statements.

The company's production and delivery numbers for the quarter are yet to be announced, but estimates, including those from Tesla's staunchest critics from Wall Street, are high that the company has achieved its target of manufacturing and delivering more than 50,000 Model 3 in the third quarter. Moreover, as part of the settlement, he will remain ineligible for re-electing as the company's chairman for another three years.

Musk tweeted on August 7, 2018, that he could take Tesla private at a substantial premium price, accounting to $420 per share.

Following the announcement that Musk would settle and step down as chairman, Tesla's stock stabilised after its 14 percent drop, shooting back up 15 percent at $305 per share.

Gore, also a well-known environmental activist who starred in the award-winning climate change documentary "An Inconvenient Truth", would indeed be seemingly aligned with Musk and Tesla's mission to put more electric cars on the road. Andrew Doane, who has a Model S sedan, Model X crossover and Model 3 vehicle and is president of the Tesla Owners Club of the Mid-Atlantic region, mustered club members to pull shifts at delivery hubs in Virginia and Maryland, and worked one himself.

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