Vote needed for Musk re­turn

The News-Times - - BUSINESS -

If Tesla CEO Elon Musk wants to re­turn as chair­man, share­hold­ers will have to vote on it. The re­quire­ment is de­tailed in a court brief filed jointly on Thurs­day by Tesla and the Se­cu­ri­ties and Ex­change Com­mis­sion. The brief was re­quired by a fed­eral judge who must ap­prove a se­cu­ri­ties fraud set­tle­ment reached with Musk and the com­pany last month. Musk and Tesla agreed to pay $20 mil­lion each to set­tle an SEC law­suit al­leg­ing Musk duped in­vestors with state­ments about a plan to take the com­pany pri­vate.

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