Musk and Tesla had every paid $20 million civil fines, and Musk stepped down as Tesla’s chairman, to resolve SEC claims that Musk defrauded traders by tweeting on Aug. 7, 2018, that he had “funding secured” to take Tesla personal.
The obtainable funds have since grown to about $41.2 million together with curiosity, in accordance with the SEC.
Alex Spiro, a lawyer for Musk, declined to remark.
Musk is searching for to throw out his 2018 settlement with the SEC, which requires {that a} Tesla lawyer pre-approve his tweets in the event that they could possibly be materials to traders. Learn full story
The SEC opposes Musk’s request. It’s also investigating Musk’s Nov. 6, 2021, tweet asking his followers whether or not he ought to promote 10 p.c of his Tesla stake, to cowl tax payments on inventory choices.
Musk has since offered greater than 15 million Tesla shares value about $16.four billion.
