Musk, SEC pact approved by judge
Tesla CEO Elon Musk’s settlement with the Securities and Exchange Commission over fraud allegations was approved by a judge on Tuesday. In addition to stepping down as chairman of the electric-car maker that he co-founded for at least three years, Musk must pay a $20 million fine to the SEC. The agreement was reached in September, when the agency sued Musk over his Twitter post claiming he'd secured funding to take the electric-car company private at $420 per share. He remains Tesla’s chief executive.