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Tesla-Musk $40 Million SEC Fine-Distribution Plan Is Approved

March 25, 2022, 9:43 PM

A judge approved a plan by the U.S. Securities and Exchange Commission for distributing $40 million to Tesla Inc. shareholders from money paid by the company and Chief Executive Officer Elon Musk in a 2018 settlement over his Twitter posts.

U.S. District Judge Alison Nathan on Friday approved the regulator’s plan to pay the money to Tesla shareholders who lost money during a short-lived run-up in the company’s stock price after Musk claimed on Twitter he was thinking about taking the company public. Tesla shares fell the next day.

Musk had complained the SEC was dragging its feet on distributing ...