The shadows of people holding mobile phones are cast onto a backdrop projected with the Twitter logo in this illustration picture taken in Warsaw September 27, 2013. Twitter Inc, the eight-year-old online messaging service, gave potential investors their first glance at its financials on Thursday when it publicly filed its IPO documents, setting the stage for one of the most-anticipated debuts in over a year. Picture taken September 27.
PHOTO: REUTERS
Tesla Chief Executive Elon Musk said the tweet that cost him and the company $20 million in fines each by the US Securities and Exchange Commision was “Worth It."
The tweet, sent late Friday evening less than an hour before Musk tweeted that he would take a break from Twitter “for a few days,” was in response to a question from a Twitter follower.
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The SEC in September charged Musk, 47, with misleading investors with tweets on August 7 that said he was considering taking Tesla private at $420 a share and had secured funding. The tweets had no basis in fact, and the ensuing market chaos hurt investors, regulators claimed.
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Tesla and Elon Musk have agreed to pay $20 million each to financial regulators and the billionaire will step down as the company’s chairman but remain as chief executive, under a settlement.
Under the settlement agreement, Tesla needs to appoint an independent chairman by November 13.
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