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Musk to buy Tesla's $20-mn stock, says it's unrelated to US SEC settlement

Tesla said the purchase is 'separate and apart from the settlement' between Musk, Tesla and the SEC

Reuters 

Tesla Inc Chief Executive Officer Elon Musk will purchase company stock worth $20 million in the next open trading session, the electric carmaker said in a filing on Wednesday. The news comes weeks after Tesla and Musk agreed to pay $20 million each as fine as part of a settlement with the US Securities and Exchange Commission. Tesla said the purchase is 'separate and apart from the settlement' between Musk, Tesla and the SEC. Shares of the company rose 2 per cent in premarket trading.

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First Published: Wed, October 17 2018. 18:46 IST
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