Tesla CEO Elon Musk, com­pany set­tle fraud suit

The News-Times (Sunday) - - Obituaries / News - NATION/WORLD

Tesla CEO Elon Musk and the elec­tric car com­pany have agreed to pay a to­tal of $40 mil­lion and make a se­ries of con­ces­sions to set­tle a gov­ern­ment law­suit al­leg­ing Musk duped in­vestors with mis­lead­ing state­ments about a pro­posed buy­out of the com­pany.

The Se­cu­ri­ties and Ex­change Com­mis­sion an­nounced the set­tle­ment Satur­day, just two days af­ter fil­ing a case seek­ing to oust Musk as CEO.

The set­tle­ment will re­quire Musk to re­lin­quish his role as chair­man for at least three years, but he will able to re­main as CEO. is­ter urged the United States on Satur­day to keep mov­ing past what he called seven decades of en­trenched hos­til­ity if Wash­ing­ton wants to restart stalled ne­go­ti­a­tions meant to rid Py­ongyang of its nu­clear bombs.

Boil­ing the ri­vals’ diplo­matic stand­off down to the North’s deep­en­ing feel­ing of mis­trust, Ri Yong Ho sought to lay out a vi­sion of peace on the trou­bled Korean Penin­sula — pro­vided the North gets what it wants from the United States.

Ri, stand­ing at a podium at the United Na­tions Gen­eral Assem­bly in New York, said North Korea is ready to im­ple­ment the points that his leader, Kim Jong Un, and U.S. Pres­i­dent Don­ald Trump agreed to in June dur­ing a sum­mit in Sin­ga­pore.

But his com­ments were in­fused with what came across as im­pa­tience at the slow pace of progress in a process the world hopes will cause Py­ongyang to aban­don an ar­se­nal of nu­clear-tipped mis­siles that aims to ac­cu­rately tar­get the en­tire U.S. main­land.

In re­cent weeks, Kim Jong Un has said he would per­ma­nently dis­man­tle North Korea’s main nu­clear com­plex, but only if the United States takes un­spec­i­fied cor­re­spond­ing measures. Kim has also promised to ac­cept in­ter­na­tional in­spec­tors to mon­i­tor the clos­ing of a key mis­sile test site and launch pad. fa­tal­i­ties com­ing in the hard­hit city of Palu, but it was ex­pected to rise once rescuers reached sur­round­ing coastal ar­eas, said dis­as­ter agency spokesman Su­topo Purwo Nu­groho. He said oth­ers were un­ac­counted for, with­out giv­ing an es­ti­mate. The nearby cities of Dong­gala and Ma­muju were also rav­aged, but lit­tle in­for­ma­tion was avail­able due to dam­aged roads and dis­rupted telecom­mu­ni­ca­tions.

Nu­groho said “tens to hun­dreds” of peo­ple were tak­ing part in a beach fes­ti­val in Palu when the tsunami struck at dusk on Fri­day. Their fate was un­known.

Hun­dreds of peo­ple were in­jured and hos­pi­tals, dam­aged by the mag­ni­tude 7.5 quake, were over­whelmed.


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