Musk's decree resolved an SEC lawsuit accusing him of defrauding investors with an Aug. 7, 2018, tweet that he had "funding secured" to take his electric car company private. Musk and Tesla each also paid $20 million in civil fines, and Musk gave up his role as chairman. But the three-judge appeals court panel said the SEC had opened just two subsequent inquiries into Musk's tweets, and those tweets "plausibly violated" the decree's terms. Tesla CEO Elon Musk and his security detail depart the company’s local office in Washington, U.S. January 27, 2023. The case is SEC v Musk, 2nd U.S.

Source: Forbes May 15, 2023 16:04 UTC