(CNBC) The SEC argued in a letter to the U.S. Court of Appeals for the Second Circuit in New York this week that Tesla CEO Elon Musk still needs a so-called “Twitter sitter,” and that an earlier settlement agreement between them is fully constitutional and valid. Now a centi-billionaire, Musk in 2018 wrote on Twitter that he had “funding secured” to take his electric vehicle company private for $420 per share, and that “investor support” for such a deal was “confirmed.”
SEC rebuffs Elon Musk’s attempt to get out of ‘funding secured’ settlement
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