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PHOTO FILE: Elon Musk, CEO of Tesla Motors, speaks at the National Governors Association's summer meeting in Providence, Rhode Island, United States, on July 15, 2017. REUTERS / Brian Snyder / File Photo
(Reuters) – Tesla Inc (TSLA.OChief Executive Officer Elon Musk said the tweet that cost him and the company a $ 20 million fine each from the US Securities and Exchange Commission was "up to ".
The tweet, sent late Friday night less than an hour before Musk would tweet that he would take a break on Twitter "for a few days," was answering a question from a Twitter fan.
In September, the SEC accused 47-year-old Musk of tweets sent on August 7 by misleading investors, saying he was considering privatizing Tesla at $ 420 per share and getting funding. . The regulators claimed that the tweets were unfounded and that the resulting market chaos hurt investors.
Tesla Inc. and Elon Musk have agreed to pay $ 20 million each to financial regulators. The billionaire resigns as president of the company, but will remain CEO under a regulation.
Under the settlement agreement, Tesla must appoint an independent chairman by November 13 at the latest.
Kenneth Li story; Edited by Chizu Nomiyama
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