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Tesla, SEC Reaffirm Settlement Despite Musk Snarky Tweet (2)

Oct. 11, 2018, 1:50 PM

Tesla Inc. and the Securities and Exchange Commission have put aside an insulting tweet by Elon Musk and asked a judge to accept a settlement of the fraud suit against the electric-car maker and its outspoken chief executive.

The proposed deal -- paying a combined $40 million to resolve claims that Musk misled the public by tweeting about his plan to take Tesla private -- includes “significant” penalties and changes at the company that are in the best interest of investors, the parties said in a joint filing Oct. 11.

U.S. District Judge Alison Nathan in New York must now ...