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US Securities and Exchange Commission

Tesla’s Musk pays $20m to settle Tweet charges, resigns as chairman

WASHINGTON: The US Securities and Exchange Commission (SEC) said Saturday carmaker Tesla and Chief Executive Elon Musk had agreed to pay $20 million each under a settlement that will also see the billionaire step down as chairman after a tumultuous two months for the company. But Musk, who is synonymous with the Tesla brand, will remain as chief executive under the settlement over tweets he posted on Aug. 7 about taking the company private, the SEC said. The SEC alleged in a lawsuit on Thursday that the tweets about…

California man harassed federal employees with 3,000 calls

CALIFORNIA: A California man who clearly had time on his hands was found guilty on Thursday of harassing federal employees with more than 3,000 expletive-filled and threatening phone calls. Kulwant (Ken) Singh Sandhu, 56, placed the calls to employees at the US Securities and Exchange Commission in Washington, leaving at least 350 lengthy voice mails, officials said. Apart from the 3,000 calls made since at least 2012, he also placed hundreds of calls to another person outside government, officials said. "Many of…