Musk, whose tweets on August 7 on a plan to take Tesla private that was later abandoned, has tweeted only once since the settlement was announced - posting a music video by rap group Naughty by Nature.
Tesla shares are expected to rebound today after Elon Musk was forced to stand down as chairman in a boardroom shake-up at the electric carmaker. However, according to the latest reports, the CEO of Tesla, the well-known auto manufacturing company, of course, Elon Musk resigns as chairman of Telsa.
However, the CEO of Tesla, of course, Elon Musk may resume this position within 3 years and managed to remain as the CEO of Tesla.
Tesla shares rebounded from last week's USA lawsuit over Elon Musk's take-private tweets, as a settlement ensured the billionaire will keep calling the shots at the carmaker he's said is on the verge of profitability.
At the same time, Tesla has also settled new charges of "failing to have required disclosure controls and procedures relating to Musk's tweets", and will also pay a penalty of $20m.
"We believe Musk's settlement with the SEC is positive for all stakeholders and should allow TSLA to return its focus to producing quality cars", Baird analyst Ben Kallo said. Under the settlements, which are contingent on court approvals, Musk will step down as Tesla chairman and will be replaced by an independent chairman. He'll also not be eligible to be elected into the Chairman position for three years, Time reports.
KAI shares plunge after losing US Air Force trainer bid
Boeing's T-X trainer has been selected to replace the T-38 Talon jets used to train U.S. The service's target date for reach initial operational capability with the T-X is 2024.
"The resolution is meant to prevent further market disruption and harm to Tesla's shareholders", Steven Peikin, co-director of the SEC's Enforcement Division, said in the statement.
He accepted the deal with the SEC "without admitting or denying the allegations of the complaint", according to a court document.
Tesla analyst Garrett Nelson of CFRA Research upped his rating on the stock Monday morning to Hold, after downgrading it on Friday to Sell.
Analysts from Cowen wrote in a note over the weekend that while the settlement would likely lead to a near-term bump for Tesla shares, it could leave Musk open to future litigation - including class-action lawsuits that have already been filed.
Musk, a co-founder of Tesla, is the company's largest stockholder, owning approximately 22 per cent of its outstanding shares.