Civil Plaintiff
A Judge Authorizes a $41.2 Million Payout From Musk and Tesla’s 2018 Settlement With the SEC
After 3 and a half years since Elon Musk and Tesla paid $40 million to settle Musk’s “funding secured” tweet, the SEC will finally be dispersing the funds to Tesla investors. The move comes following a decision by Judge Alison Nathan of U.S. District Court, Southern District of New York.
Back in 2018, following an onslaught of attacks from short-sellers, Elon Musk had decided to delist Tesla from the New York Stock Exchange and turn it into a private company.
And in August of the same year, Elon Musk wrote on Twitter his now infamous words saying “Am considering taking Tesla private at $420. Funding secured.”
