Tesla shares soar after Musk settles with SEC
The stock price of electric carmaker Tesla has soared after founder Elon Musk settled fraud charges with the U.S. Securities and Exchange Commission.
Shares went up more than 17 percent on Monday, making back 돌아가다 nearly all of the losses 손실, 분실, 손해 that occurred last Friday in the wake of ~에 뒤이어, ~을따라 the SEC's lawsuit 소송 against Musk.
The SEC claimed Musk had mislead investors when he tweeted he secured funding to take Tesla private.
Both sides agreed to a settlement over the weekend, which requires Musk to step down 퇴직하다, 사직하다 as the firm's chairman for at least three years, although he will be allowed to stay on as CEO.
Both Musk and Tesla will also have to pay 20 million-dollar fines.
Neither Musk nor Tesla is required to admit any wrongdoing 나쁜행위, 범죄 as part of the settlement, which is subject to court approval.
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