Elon Musk has reached a settlement with the Securities and Exchange Commission that allows him to stay on as chief executive of Tesla Inc. but requires that he step aside from the chairman role for three years. The surprising twist, announced by the SEC on Saturday, comes after he rejected a settlement on Thursday and appeared to be hunkering down to fight a lawsuit by the agency. The SEC alleged he misled investors with Twitter messages on Aug. 7 that claimed the company had funding in place to take the auto maker private....

Source: Wall Street Journal September 29, 2018 21:46 UTC