Elon Musk to buy Tesla $ 20 million shares

Elon Musk to buy Tesla $ 20 million shares


The electric car maker said in a filing Wednesday that Tesla Inc. Chief Executive Officer Allen Musk will buy the company’s shares of $ 20 million in the next open trading session. Tesla and Musk agreed to pay $ 20 million in a settlement with the US Securities and Exchange Commission in a fraud case related to tweets by Musk in August.

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Although Tesla says that the purchase was different between the Musk, Tesla and the SEC and apart from the settlement, they did not respond to the reasons for the purchase. There is no information given by both Tesla and Musk about whether these shares are being taken to solve the case of fraud, or there is no other reason behind it.

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Let us know that the American Securities and Exchange Commission (SEC) had on September 27 charged Tesla’s chief executive officer Alan Musk for fraudulent fraud (securities fraud). The commission alleged that Musk had confused investors by tweeting related to the company last month. Although Musk had dismissed the allegations made by the commission, he had said that the claims made by the commission were baseless.