{"id":2698,"date":"2018-09-29T22:49:23","date_gmt":"2018-09-29T22:49:23","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/elon-musk-reaches-deal-over-tweets-about-taking-tesla-private\/"},"modified":"2018-09-29T22:49:23","modified_gmt":"2018-09-29T22:49:23","slug":"elon-musk-reaches-deal-over-tweets-about-taking-tesla-private","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/elon-musk-reaches-deal-over-tweets-about-taking-tesla-private\/","title":{"rendered":"Elon Musk reaches deal over tweets about taking Tesla private"},"content":{"rendered":"\n<div property=\"articleBody\">\n<figure class=\"media-with-caption\">\n<div class=\"player-with-placeholder\">\n            <img decoding=\"async\" class=\"media-placeholder player-with-placeholder__image lead-video-placeholder\" src=\"https:\/\/ichef.bbci.co.uk\/images\/ic\/720x405\/p06mdf97.jpg\"\/><\/p>\n<p>Media playback is unsupported on your device<\/p>\n<\/p><\/div><figcaption class=\"media-with-caption__caption\"><span class=\"off-screen\">Media caption<\/span>Who is Elon Musk?<\/figcaption><\/figure>\n<p class=\"story-body__introduction\">Elon Musk must step down as Tesla chair and pay a fine after reaching a deal with US regulators over tweets he posted about taking the firm private.<\/p>\n<p>It follows Thursday&#8217;s decision by the Securities and Exchange Commission (SEC) to sue Mr Musk for alleged securities fraud.<\/p>\n<p>Under the deal, Mr Musk will remain as Tesla CEO but must step down as chairman for three years.<\/p>\n<p>Both he and Tesla will also have to pay a $20m (\u00a315m) fine.<\/p>\n<ul class=\"story-body__unordered-list\">\n<li class=\"story-body__list-item\"><a href=\"https:\/\/www.bbc.com\/news\/business-45560987\" class=\"story-body__link\">The weird and wonderful life of Elon Musk<\/a><\/li>\n<\/ul>\n<p>Under the terms of the deal, he will also have to comply with company communications procedures when tweeting about the firm.<\/p>\n<p>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.<\/p>\n<p>He wrote he had &#8220;funding secured&#8221; for the proposal, which would value Tesla at $420 per share.<\/p>\n<p>The SEC said those claims were &#8220;false and misleading&#8221;.<\/p>\n<p>&#8220;In truth and in fact, Musk had not even discussed, much less confirmed, key deal terms, including price, with any potential funding source,&#8221; the regulator said.<\/p>\n<p>Mr Musk initially responded to the charges by saying the action was &#8220;unjustified&#8221; and he acted in the &#8220;best interests of truth, transparency and investors&#8221;.<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.co.uk\/news\/business-45696150\">Source<\/a> by <a href=\"\">[author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Media playback is unsupported on your device Media captionWho is Elon Musk? Elon Musk must step down as Tesla chair and pay a fine after reaching a deal with US regulators over tweets he posted about taking the firm private. It follows Thursday&#8217;s decision by the Securities and Exchange Commission (SEC) to sue Mr Musk &hellip; <\/p>\n","protected":false},"author":0,"featured_media":2660,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2698","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/2698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=2698"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/2698\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/2660"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=2698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=2698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=2698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}