Elon Musk stepping down as Tesla’s chairman and paying $ 20 million to resolve his crisis with the US stock exchange



The Securities and Exchange Commission filed a lawsuit a few days ago accusing Tesla chairman Elon Musk of manipulating the stock market and deceiving investors after his comments about his company’s transformation, especially as support was secured for the process.

The new issue of Musk appears to be very strong for Tesla’s search for solutions to overcome the crisis at any cost.

The company has a large agreement with the Securities and Exchange Authority, whereby Elon Musk resigns from the position of chairman and pays $ 20 million in fines.

But at the same time he will remain the company’s executive director.

“When an official within the institution speaks, he has to make sure that it is true and not misleading,” said Jay Clayton, chairman of the board.


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