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Judge Authorizes $41.2M Payout From Musk and Tesla's SEC Settlement

After 3 and a half years since Elon Musk and Tesla paid $40 million to settle Musk's "funding secured" tweet, the SEC will finally be dispersing the funds to Tesla investors. The move comes following a decision by Judge Alison Nathan of U.S. District Court, Southern District of New York.

Back in 2018, following an onslaught of attacks from short-sellers, Elon Musk had decided to delist Tesla from the New York Stock Exchange and turn it into a private company.

And in August of the same year, Elon Musk wrote on Twitter his now infamous words saying “Am considering taking Tesla private at $420. Funding secured.”

Read the source article at Torque News

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