https://www.cnet.com/roadshow/news/teslas-elon-musk-settles-with-sec-is-out-as-board-chairman-will-pay-20-million/ > The SEC had filed a lawsuit against Musk on Thursday, regarding an Aug. 7 tweet in which he told his 22 million followers that he was poised to take the company private. He later backtracked on that statement. > "Musk's false and misleading public statements and omissions caused significant confusion and disruption in the market for Tesla's stock and resulting harm to investors," the SEC said in the complaint.