Elon Musk, Tesla Expected To Dish Out Payments To Investors Over 'Funding Secured' Tweet
Portfolio Pulse from Adam Eckert
Tesla Inc (NASDAQ:TSLA) and CEO Elon Musk are expected to pay out approximately $41.5 million to 3,350 eligible claimants who lost money after Musk's 2018 tweet about taking the company private. The payout is part of a settlement with the U.S. Securities and Exchange Commission (SEC) over a lawsuit accusing Musk of defrauding investors. The SEC settlement also included $20 million in payments from both Musk and Tesla, and Musk stepping down as chairman of Tesla.
August 24, 2023 | 6:58 pm
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Tesla is expected to pay out $41.5 million to investors who lost money due to Elon Musk's 2018 tweet about taking the company private. This could potentially impact the company's stock price in the short term.
The payout is a significant financial obligation for Tesla and could potentially impact the company's financials and investor sentiment. This, in turn, could lead to volatility in the stock price. Furthermore, the news highlights the regulatory risks associated with Elon Musk's public statements, which could also affect investor sentiment.
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