Musk and Tesla paid $ 20 million in civil fines each, and Musk stepped down as Tesla chairman to resolve SEC claims that Musk cheated investors by tweeting August 7, 2018, saying he had “secured funding” to make Tesla private.
According to the SEC, available funds have since risen to about $ 41.2 million, including interest.
Alex Spira, Mask’s lawyer, declined to comment.
Musk is seeking to abandon his 2018 agreement with the SEC, which requires Tesla’s attorney to pre-approve his tweets if they may be relevant to investors. Read the full story
The SEC opposes Mask’s request. He is also investigating Mask’s tweet of November 6, 2021 with the question of whether he should sell 10 percent of his stake in Tesla to cover tax bills on stock options.
Since then, Musk has sold more than 15 million Tesla shares worth about $ 16.4 billion.