Elon Musk Settles With SEC, Agrees To Step Down As Tesla Chairman
![Tesla CEO Elon Musk has agreed to step down as chairman of the electric-car company as part of a settlement to resolve a securities fraud charge lobbed by the SEC on Thursday.](https://media.npr.org/assets/img/2018/09/29/gettyimages-1035243910_wide-c1f209e4e8bb645e1852ad7b7a46a75412a84f06.jpg?s=600)
The Tesla CEO reached a deal with the Securities and Exchange Commission to resolve a securities fraud case. As part of the deal, Tesla and Musk agreed to pay $40 million in penalties.
(Image credit: Patrick T. Fallon/Bloomberg via Getty Images)
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