The next year, Musk tweeted often about going private with Tesla,
stating that he had funds in place. The United States Securities and stating that he had funds in place. The United States Securities and
He was charged with securities fraud by the Exchange Commission (SEC).
proclaiming his tweets to be "false and misleading." The following month
The SEC's proposed settlement was rejected by the Tesla board.
allegedly after Musk's resignation threat. However,
Tesla's shares fell after learning of the rejected deal, and the board quickly
the agreement's provisions stipulated that Musk would step down as chairman for at