Musk will get to keep his job as chief executive officer and remain on the company's board, but must resign as chairman within 45 days and can't be re-elected to the role for three years as part of the accord reached Saturday with the Securities and Exchange Commission.
That caused a brief spike in Tesla's share price, leading so-called short-sellers, who have been betting on the stock crashing for years, to lose millions.
According to a report, Elon Musk has resigned as the chairman of Tesla.
He will stay on as chief executive of the company.
"The total package of remedies and relief announced today are specifically created to address the misconduct at issue by strengthening Tesla's corporate governance and oversight in order to protect investors", said Stephanie Avakian, the SEC's co-director of enforcement.
Musk, a co-founder of Tesla, is the company's largest stockholder, owning approximately 22 per cent of its outstanding shares.
The settlement requires that Tesla appoint two new independent directors and establish a committee of independent board members. With its meteoric rsie, Tesla has practically recovered the losses it incurred last week after the SEC announced that it was filing a lawsuit against Elon Musk over his "funding secured" Twitter announcement last August.
Analysts expect Wall Street will now be able to focus more on third quarter production numbers for the company's Model 3 sedan this week.
It revealed facts based on emails, documents and interviews that private lawyers haven't gained access to yet, giving them a better chance of withstanding Tesla and Musk's attempts to get the shareholder suits thrown out, legal experts said.
Ford had repeatedly asked for an FBI investigation during her testimony, which only Democrats on the committee then supported. The White House confirmed that Trump watched the testimony aboard Air Force One as he returned to Washington from NY .
There could be an isolated rain shower tonight ahead of an approaching cold front from a low pressure system. Expect to see some patchy fog, and otherwise it will be cloudy with lows in the upper 50s, forecasters said.
Kavanaugh's march toward Senate confirmation has been rocked by allegations of decades-old sexual improprieties from two women. Swetnick said Kavanaugh's claim of "innocence" and lack of sexual activity in high school was "absolutely false and a lie".
She said Kavanaugh and a friend of his, Mark Judge , were drunk at the 1982 party when they pushed her into a bedroom. Ford's attorney Debra Katz said her client considers the alleged incident to be an "attempted rape".
Mintaro Oba, a former state department official said Trump's relaxed attitude was better than artificial deadlines. You would have had a war and you would have lost millions, not thousands, you would have lost millions of people.
The company has struck deals with various high-profile financial institutions, including Santander and American Express. But, one concern in regards to the short-term price trend of cryptocurrencies is the low volume of Bitcoin .
The Oculus Quest was unveiled today during a conference at Oculus Connect 5 and will release sometime in Spring 2019. Insight gives you a greater sense of immersion, presence, and mobility, plus the ability to go beyond room-scale.
Still wants an FBI investigation? "They finally did reach him, and he said we are not issuing a statement ". They were there to protest the nomination of Kavanaugh, who graduated from Yale Law School in 1990.
Raj Kapoor's wife Krishna dies
Tragically, Rishi Kapoor , who recently left for the USA for a medical treatment, couldn't be part of his mother's final journey. A video from the last rites show Taimur Ali Khan's grandmother making her way out of the house with Kareena by her side.
The Fed raises interest rates by a quarter percentage point
The measures have disrupted supply chains and caused retaliation against USA exports in the economies of the nations affected. The Fed said it expects the GDP to fall to 2.5 percent next year, to 2 percent in 2020 and 1.8 percent in 2021.
Passenger jet crashes into water in Micronesia
A cargo plane belonging to Air Niugini went off a runway at Madang Airport in 2013, but there were no casualties. A passenger jet has landed in the ocean after overshooting the runway in the Federated States of Micronesia.
Brett Kavanaugh: allegations of misconduct continue to mount
In the document, Swetnick said she attended numerous house parties "between 1981-1893 where Kavanaugh and Judge were present". Julie Swetnick said in her first interview that she doesn't think Brett Kavanaugh should be on the Supreme Court.