Elon Musk fined $20million and must resign as chairman following fraud charges

Elon Musk is being sued by the SEC

Tesla will also pay an additional $20 million fee; the $40 million total will be distributed to harmed investors, the SEC said Saturday.

Things could ultimately have been significantly worse for Musk, as the SEC had sought to bar him from serving as an officer or board member of a publicly traded company. "Shareholders could either to sell at 420 or hold shares & go private", he wrote in a follow-up tweet. Neither Musk nor Tesla admitted or denied the SEC's findings as part of the settlement. "Musk had not discussed specific deal terms, including price, with any potential financing partners, and his statements about the possible transaction lacked an adequate basis in fact".

Key passages from Julie Swetnick's declaration alleging sexual misconduct against Brett Kavanaugh
Mint and the Internal Revenue Service. "This contact into included the fondling and grabbing the girls without their consent". Meanwhile, the White House released a brief statement from Kavanaugh denying the accusations made by Swetnick .

The fraud allegation relates to his August tweet in which he said he was considering taking Tesla off the stock market and into private ownership.

Musk is now required to step down as chairman of Tesla within 45 days, and he is not permitted to be re-elected to the post for three years. The SEC said the company had no way to determine if his tweets contained information that must be disclosed in corporate filings, or if they contained complete and accurate information.

After a historic Senate hearing, what comes next for Brett Kavanaugh?
Before Ms Ford began, committee chairman Chuck Grassley defended the Republicans' handling of the confirmation proceedings so far. And both said that they've faced stress, threats from strangers and pressure on their family members that they never imagined.

Tesla will also name two new independent board directors as well as paying the fine.

The SEC said those claims were "false and misleading".

Kavanaugh's accuser has four people to back up her claims
She said in her statement that there are two witnesses who can attest to her account, but she has not identified them publicly. Kavanaugh described Swetnick's accusations as " ridiculous ", adding " I don't know who this is and this never happened ".

Mr Musk initially responded to the charges by saying the action was "unjustified" and he acted in the "best interests of truth, transparency and investors".

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