In case you haven't been paying attention to the news, Tesla's sort of going through a rough patch at the moment: The electric auto manufacturer's founder, Elon Musk, now has the US Securities and Exchange Commission breathing down his neck, and it's safe to say that the company's seen better days.
Tesla jumped in pre-market trading after Elon Musk settled a United States lawsuit over his take-private tweet storm, reassuring investors that the billionaire will keep calling the shots at the electric-car maker he's said is on the verge of profitability.
Two "independent directors" will also be appointed by Tesla, and the company will set up a new committee of independent directors and "put in place additional controls and procedures to oversee Musk's communications", the SEC said.
Musk said that he had "funding secured" for a buyout of the electric-car company at $420 a share, reports The New York Times.
Musk and Tesla must each pay $20 million in fines, which will be distributed to traders who were harmed by the tweets.
Musk's tweet about taking his company private, along with attacks on critics on social media, raised concerns with investors about whether Musk has become too focused on criticism from so-called short-sellers who had been making bets against him and Tesla.
In a statement, the SEC added that the settlements are subject to court approval and that they would also require comprehensive corporate governance and other reforms at Tesla.
Stephanie Avakian and Steve Peikin, co-directors of the SEC's Enforcement Division, led the talks, taking the reins from the staff attorneys who worked the case, according two people familiar with the matter.
Tesla analyst Garrett Nelson of CFRA Research upped his rating on the stock Monday morning to Hold, after downgrading it on Friday to Sell. However, at the last moment he changed his mind, and in turn the SEC filled a lawsuit claiming that "Musk had not even discussed, much less confirmed, key deal terms, including price, with any potential funding source".
"Shareholders with Tesla will be able to go to sleep tonight knowing the Musk will remain at the helm of the company".
Musk, whose tweets on August 7 on a plan to take Tesla private that was later abandoned, has tweeted only once since the settlement was announced - posting a music video by rap group Naughty by Nature.
It's been great for Mexico. "I mean Mexico has 25 percent of our oil business now because of NAFTA", said Trump. In May, the United States imposed steep tariffs on steel and aluminum from much of the world, including Mexico.
If his nomination clears the panel, it must win confirmation from the full Senate, which Republicans narrowly control 51-49. About 200 people gathered in front of the Supreme Court building in Washington , chanting: "I believe Christine Ford."U.S.
Pyongyang demands the removal of the 28,500 US troops stationed in the South to deter North Korean military adventurism. Post-summit nuclear negotiations between Washington and Pyongyang were rocky and quickly settled into a stalemate.
Ford and deprive her of the ability to make a considered decision that has life-altering implications for her and her family". Katz said in an email released by the Washington Post's Seung Min Kim that the deadline was intended "to bully Dr.
The storm has disrupted air travel, with an unspecified number of flights suspended Sunday, according to public broadcaster NHK. East Japan Railway Co. shut down all of its train services in the Tokyo Metropolitan area around 8 p.m.
It was a sweet moment for Derby boss Lampard, who enjoyed so much success working under Mourinho during their time at Chelsea . The Portuguese declined to give a reason for his decision to take the United vice-captaincy away from the World Cup victor .
The women making the allegations, Trump said, "were coming out of the woodwork and, he said, "in my opinion totally political". Since then, her lawyers and committee staff have been negotiating the conditions of her testimony. "I hope she comes".
A caller lost his temper with the Labour front bench for "changing their stance" on Brexit and the idea of a second referendum. The move was quickly dropped but party leader Jeremy Corbyn refused calls to offer his support for the under-fire MP .
Wolves wanted Simmons in potential Butler trade
The Timberwolves would fulfill Butler's wish and relieve the negative tension that has been plaguing them throughout the process. The Miami Heat , who have been among the most aggressive teams pursuing a trade for Butler, find the price too high.
Modric, Marta win Best FIFA player 2018 awards
However, the awardees were selected based on voting from national team coaches and captains as well as a number of journalists. France boss Didier Deschamps picked up the best manager award after guiding his nation to their second World Cup victory.
Survivor found inside capsized Tanzania ferry; toll hits 209
According to him, the ferry has a capacity of carrying only 100 passengers and 25 tonnes of cargo but it had more than 400 people. Magufuli said on Friday initial investigations showed that the cause of the accident was overloading, The Citizen reported .
Man United to be without 5 players for Wolves match
I imagine his message to the squad is: look, everyone is against us, let's stick together and do what we have to do. Rojo did play for the U23's last week but is still not ready for first team action just yet.
Arrested Demonstrating Support For Christine Blasey Ford
Since Ford has filled out the troubling details of her accusation and attached her name to them, they can not treated so casually. Asked if he would ask the FBI to open a deeper investigation, Trump said he was content to "let the senators do it".
Apple fans in Singapore get hands on new iPhones
It has a 6.4-inch screen, a stylus, an iris reader, and even the ability to plug in a keyboard, mouse and desktop-sized monitor. It can also be bought on FNB credit cards starting from R689 per month for iPhone Xs 64GB , and R755 for the iPhone Xs Max.
Alibaba's Ma says 1m USA jobs pledge thwarted by trade row
He added US tariffs on hundreds of billions of dollars of Chinese products could prompt the country to export elsewhere. Mr Ma pointed to business opportunities in other regions such as Europe, South America, Russia and Africa, Xinhua said.