Tesla and CEO Elon Musk settled with the SEC last year over Musk’s tweets about taking the company private, but the fallout isn’t over.
The electric-car company said in a filing Tuesday that it “substantially paid by the end of 2018” $30.1 million in settlement and legal expenses related to Musk’s public statements about a plan to take Tesla private, which did not materialize.
However, Tesla also said that by March 7 it plans to file a motion to dismiss a consolidated class-action lawsuit filed in January by shareholders who accused Musk of violating federal securities laws when he tweeted last August that he had secured financing to take the company private.
via For Tesla, effects of Elon Musk’s take-private tweet continue.
