Tesla CEO Elon Musk, company settle fraud suit for $40M

SAN FRANCISCO (AP) — Tesla CEO Elon Musk and the electric car company have agreed to pay a total of $40 million and make a series of concessions to settle a government lawsuit alleging Musk duped investors with misleading statements about a proposed buyout of the company.
The Securities and Exchange Commission announced the settlement Saturday, just two days after filing a case seeking to oust Musk as CEO.
The settlement will require Musk to relinquish his role as chairman for at least thr