The SEC said Musk, 47, misled investors with tweets on Aug. 7 in which he said he was considering taking Tesla private and had secured funding. Neither Musk nor Tesla admitted or denied the SEC's findings as part of the settlement. Agreement could strengthen TeslaInvestors and corporate governance experts said on Saturday that the agreement could strengthen Tesla, which has been bruised by Musk's recent volatile behavior. Tesla is required to appoint two new independent directors to its board, a move Feinseth should strengthen the company. The SEC charged Tesla with failing to have required disclosure controls and procedures for Musk's tweets.

Source: CBC News September 29, 2018 21:50 UTC