SEC 'Funding Secured' Charge and Settlement
Summary
After Musk's August 2018 tweets that he had 'funding secured' to take Tesla private at $420/share, the SEC charged him with securities fraud. Musk and Tesla each agreed to pay $20M fines, Musk stepped down as Tesla chairman, and a pre-approval policy for certain posts was added.
Outcome
Settled without admitting or denying wrongdoing. Musk later challenged the consent decree but it was upheld.
Cite this page
Reviewed Jun 10, 2026ElonFacts.org. (2026). SEC 'Funding Secured' Charge and Settlement. Retrieved from https://elonfacts.org/record/funding-secured-sec-settlement
"SEC 'Funding Secured' Charge and Settlement." ElonFacts.org, Jun 10, 2026, https://elonfacts.org/record/funding-secured-sec-settlement.
@misc{elonfacts-record-funding-secured-sec-settlement, title={SEC 'Funding Secured' Charge and Settlement}, author={{ElonFacts.org}}, year={2026}, url={https://elonfacts.org/record/funding-secured-sec-settlement}}
https://elonfacts.org/record/funding-secured-sec-settlement