The deal was announced Saturday, just two days after SEC filed its case seeking to oust Musk as CEO. Tesla's stock plummeted 14 percent Friday after the SEC filed its lawsuit, erasing more than $7 billion in shareholder wealth. Tesla's stock has dropped 30 percent since Aug. 7, closing Friday at $264.77. The resolution "is in the best interests of our markets and our investors, including the shareholders of Tesla," SEC Chairman Jay Clayton said in a statement. "Considering the drastic punishment the SEC had announced, Musk and Tesla got lucky," said Krebs, the Autotrader analyst.

Source: ABC News September 29, 2018 21:51 UTC