Ilon Mask was fired at the SEC's request. Tesla fined $ 20 million. Let's discuss this, Steemit!!!

in #news6 years ago (edited)

 


Tesla's CEO Ilon Mask will step down as the head of the board of the manufacturer of electricvehicles and pay a $ 20 million fine at the request of the US Securities and Exchange Commission(SEC). Mask will remain the general director and will be on the council, but not as chairman.

This agreement will not cause a bloody and harmful massacre between the Mask, the companyand the shareholders of Tesla.

Mask resigns


Mask will step down as Chairman of the Board of Tesla within 45 days after signing theagreement, which was presented on Saturday. He agreed not to seek re-election and not acceptappointment as chairman for three years. An independent chairman will be appointed in hisplace.



Also Tesla will pay a fine of 20 million dollars. The fine and the prosecution against Tesla areadvanced due to the inability to request the disclosure of information and procedures related tothe tweets Mask. However, the Mask will not have to recognize or deny the SEC's allegationsunder the agreement.

Tesla also agreed to appoint two independent directors to the board and create a new committeeof independent directors, and introduce additional control measures and procedures to monitorthe communications of the Mask. Probably, Mask will have to behave more restrained on Twitter - and he's used to announcing new products, functions and updates there. At least with Tesla thiswill not happen again.

All this will help prevent further market disruption and harm to Tesla shareholders. Now Tesla iswaiting for corporate control, and shareholders who demanded to humble the Mask and dislodgethe errant manager from the post of the head of the board of directors will be satisfied. 

Sort:  

It's "elon musk" not "ilon mask", please correct that ridiculous typo.

Congratulations @verticalcab! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You got a First Reply

Click here to view your Board of Honor
If you no longer want to receive notifications, reply to this comment with the word STOP

Do not miss the last post from @steemitboard:

Be ready for the next contest!
Trick or Treat - Publish your scariest halloween story and win a new badge

Support SteemitBoard's project! Vote for its witness and get one more award!

I am new on Steemit. Please Upvote my posts. Thanks

Posted using Partiko Android

It looks like you are interested in Technlogy and Musk-oriented stuff. Do you know a guy @answerswithjoe on Steemit? He creates really good materials about those topics :)

Congratulations @verticalcab! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You published your First Post
You got a First Vote
Award for the number of upvotes received

Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word STOP

Do not miss the last post from @steemitboard:

SteemitBoard knock out by hardfork

Support SteemitBoard's project! Vote for its witness and get one more award!

I’ve been short/buy puts on Tesla for sometime. This company is way overvalued and what Elon did was criminal. He is a visionary, but should not be influencing a public stock.

Posted using Partiko iOS

Nice my dear, thanks like my post

Posted using Partiko Android

Congratulations @verticalcab! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You made more than 300 upvotes. Your next target is to reach 400 upvotes.

Click here to view your Board of Honor
If you no longer want to receive notifications, reply to this comment with the word STOP

Do not miss the last post from @steemitboard:

Trick or Treat - Publish your scariest halloween story and win a new badge
SteemitBoard notifications improved

Support SteemitBoard's project! Vote for its witness and get one more award!

Congratulations @verticalcab! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You made your First Comment

Click here to view your Board of Honor
If you no longer want to receive notifications, reply to this comment with the word STOP

Do not miss the last post from @steemitboard:

Be ready for the next contest!
Trick or Treat - Publish your scariest halloween story and win a new badge
SteemitBoard notifications improved

Support SteemitBoard's project! Vote for its witness and get one more award!