US judge asks Musk and SEC to justify fraud settlement as 'fair and reasonable'

US judge asks Musk and SEC to justify fraud settlement as 'fair and reasonable'

6 years ago
Anonymous $oIHRkISgaL

https://www.cnbc.com/2018/10/04/elon-musks-settlement-with-sec-hits-a-snag.html

Tesla CEO Elon Musk's settlement with the Securities and Exchange Commission hit a snag Thursday after the federal judge charged with approving it asked them to justify the agreement.

U.S. District Judge Alison Nathan said the court needs to make a "minimal determination of whether the agreement is appropriate" before he would sign off on the deal. She said the law requires her to determine whether the enforcement action is "fair and reasonable, with the additional requirement that the public interest not be disserved."

US judge asks Musk and SEC to justify fraud settlement as 'fair and reasonable'

Oct 4, 2018, 6:27pm UTC
https://www.cnbc.com/2018/10/04/elon-musks-settlement-with-sec-hits-a-snag.html > Tesla CEO Elon Musk's settlement with the Securities and Exchange Commission hit a snag Thursday after the federal judge charged with approving it asked them to justify the agreement. > U.S. District Judge Alison Nathan said the court needs to make a "minimal determination of whether the agreement is appropriate" before he would sign off on the deal. She said the law requires her to determine whether the enforcement action is "fair and reasonable, with the additional requirement that the public interest not be disserved."