Tesla CEO Elon Musk settles lawsuit with SEC for $40M, will step down as chairman

By [email protected] (Aaron Cole) Tesla CEO Elon Musk on Saturday settled a lawsuit with federal regulators alleging that the controversial executive bilked investors and lied when he announced the automaker had “funding secured” to buy back millions in shares to take the company private. The Securities and Exchange Commission announced the settlement Saturday. According to the…

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