US SEC seeks to close Musk, Tesla settlement fund
The US Securities and Exchange Commission (SEC) has finalized the distribution of a $40 million fund established from civil fines paid by Elon Musk and Tesla. The fund, known as the "Fair Fund," was created following Musk's 2018 settlement of the SEC's first civil enforcement case against him, which alleged securities fraud for his claims regarding Tesla's potential acquisition.
A federal judge is set to close the fund after the SEC distributed the funds to 3,350 eligible claimants, totaling approximately $41.53 million, including interest and after deducting fees.
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- US SEC seeks to close Musk, Tesla settlement fund channelnewsasia.com
