Shares of Tesla Inc jumped by nearly 18 percent on Monday as Chief Executive Elon Musk settled a lawsuit that had threatened to force him out and said a surge in third-quarter production had driven it to the verge of profitability.
The SEC announced the deal on Saturday - two days after it sued Musk in federal court for misleading investors over his post on Twitter last month that he was considering taking Tesla into private ownership at $420 a share. It alleged that Musk's statements - including the assertion that he had "funding secured" to take Tesla private - "were premised on a long series of baseless assumptions and were contrary to facts that Musk knew".
The tent may address a criticism lobbed at the company by some of the short sellers who CEO Elon Musk has publicly expressed a desire to "burn".
Tsunami azota ciudad de Indonesia tras terremoto de 7.5 grados
Otro portavoz de la agencia añadió que el tsunami afectó también a la ciudad de Donggala , en la misma provincia. La Agencia de Búsqueda y Rescate anuncia que un barco y helicópteros colaborarán en las labores de ayuda.
Moreover, Both Tesla and Musk will pay $20 million in fines that will be distributed in a court-approved process to the investors that were potentially harmed by Musk's Twitter activity.
The company is expected to release quarterly production numbers this week for the Model 3, seen by analysts as crucial to the carmaker's drive to achieve long-term profitability. In an internal email obtained by Bloomberg, company chief Elon Musk is asking around 100 to 200 employees thinking of buying a Tesla to join an internal testing program for the automaker's full-fledged autonomous system.
Cubs in playoffs: Sunday games could determine playoff spots
Milwaukee visits Chicago on Monday for the first tiebreaker in major league history in which the loser doesn't go home. Milwaukee did not announce a starter, but the Brewers' deep bullpen might be the biggest concern for the Cubs.
Ivan Feinseth of Tigress Financial Partners, also a Tesla analyst, called the settlement "an incredibly beneficial outcome for the company", adding that while he remains neutral on the stock, he would be a buyer in the $255-$275 price range.
Musk will step down as chairman of Tesla for three years, starting in November. The SEC cited "significant market disruption" as the primary repercussion of Musk's loose lips, as well as questioning Tesla's dissemination of information.
According to a report, Elon Musk has resigned as the chairman of Tesla.
Clásico nacional: Google le da la victoria al América contra Chivas
El Rebaño cayó 1-3 y enfrentará el Clásico Nacional tras ser eliminado, al igual que el América . El delantero se suspendió en el aire y su certero remate de cabeza igualó la pizarra.
"The total package of remedies and relief announced today are specifically created to address the misconduct at issue by strengthening Tesla's corporate governance and oversight in order to protect investors", said Stephanie Avakian, co-director of the SEC's Enforcement Division.