Musk to purchase Tesla stock worth US$20 million

Elon Musk files 'Teslaquila' trademark

A USA judge on Tuesday approved a settlement between a federal regulator, Tesla Inc and its chief executive officer, Elon Musk, over his tweets promising to take the company private, signaling an end to a tumultuous period for investors.

Musk also shot off a sarcastic tweet last Thursday to the SEC, just hours after Judge Alison Nathan with the U.S. District Court, Southern District of NY, ordered him and the SEC to explain why their settlement was fair and reasonable.

Despite what appears to be Musk's irritation in light of the case, the deal has now been agreed and will be followed through.

A federal judge has approved Musk's settlement with the SEC over securities fraud allegations.

Tesla Motors CEO Elon Musk introduces the falcon wing door on the Model X electric sports-utility vehicles during a presentation in Fremont, California September 29, 2015.

"In a series of tweets http://bit.ly/2QRIzAt, Musk said."~6 months before it is in all new production cars.

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The company also accepted a US$20 million fine, despite not being charged with fraud.

Elon Musk first introduced the idea and the label earlier this year during a April Fools' Day prank. The surprising tweet caused Tesla's share price to rise quickly, before dropping almost 30 percent.

A troubled Model 3 launch could heighten the risks for the company, while a steady delivery of Model 3s could generate a stream of cash that would allow Tesla to avoid going again to the capital markets to fund its operations. The plan called for their combined US$40 million in penalties to be distributed to harmed shareholders through a court-approved process, the SEC has said.

CEO Elon Musk and a USA federal judge finalized an agreement Tuesday morning to settle allegations of fraud. Tesla has until November 13 to appoint an independent chairman.

Tesla has burned through over $2 billion in cash so far this year ahead of the launch. Why not Muskquila? At least it sounds like a type of alcohol and not like what we sound like when we're drunk and attempting to say Tesla-coil.

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