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Exactly. The original deal was: 1. No admission of guilt 2. Bar from chairmanship for 2 years 3. $10 million fine for Musk and $10 million fine for Tesla Th
by desdiv 8y ago
Exactly. The original deal was:
1. No admission of guilt
2. Bar from chairmanship for 2 years
3. $10 million fine for Musk and $10 million fine for Tesla
The final deal was:
1. No admission of guilt
2. Bar from chairmanship for 3 years
3. $20 million fine for Musk and $20 million fine for Tesla
So the 48 hour delay brought Musk nothing in return.
[0] https://www.theverge.com/2018/9/29/17918252/elon-musk-tesla-sec-securities-fraud-lawsuit-settlement-fine-penalty https://www.theverge.com/2018/9/29/17918252/elon-musk-tesla-...
[1] https://www.nytimes.com/2018/09/28/business/elon-musk-tesla-sec-deal.html https://www.nytimes.com/2018/09/28/business/elon-musk-tesla-...
- Asparagirl 8y agoImportantly, both deals also require adding two new independent directors to the Tesla board. Who will, one presumes, get to see the company’s books, and then vote on what to do about those numbers.