I knew this would not be cheap, and make no mistake, the SEC is one very serious body. So, during the weekend, Elon Musk and the SEC settled their case. It was resolved that Elon Musk and Tesla pays 20 million dollars. Also, it was resolved that Elon Musk remains the CEO but steps down as the Chairman of Tesla for three years.
It is a bit hard to imagine Tesla without Elon Musk, but at the same time, this is a black eye for Tesla. It has to hire an independent chairman to oversee events at Tesla.
At least Elon Must remains in the company and that is the most important thing.
