*By Carlo Versano*
Shares of Tesla jumped more than 15 percent in the pre-market Monday on news that CEO Elon Musk settled a lawsuit with the SEC over Musk's social media use.
Under the terms of the settlement, Musk will step down as chairman of Tesla ($TSLA) for at least three years but can remain in the chief executive role. He and the company must each pay $20 million in fines. Two independent board members will also be appointed.
Federal regulators sued Musk last week, arguing that his infamous Aug. 7 "funding secured" tweet amounted to securities fraud. The lawsuit was filed after Musk reportedly scuttled a last-minute deal with the agency under which he would resign as chairman and pay a fine but not admit to any wrongdoing. Talks restarted soon after, and by Saturday a new settlement was in place.
The settlement takes care of one major headache for investors, who will now look to the car maker's third-quarter production and delivery numbers, which may be reported as early as Monday. Musk [reportedly] (https://www.cnbc.com/2018/09/30/elon-musk-tells-tesla-to-ignore-distractions-hints-at-profitability.html) emailed employees over the weekend, telling them to "ignore all distractions" and that the company was approaching profitability.
Nearly two years after its attempted initial public offering of shares disintegrated, WeWork says it will go public in a merger with a special-purpose acquisition company.
Vizio CFO Adam Townsend spoke to Cheddar about the TV manufacturer's expanded SmartCast streaming offerings to boost revenue through ad-supported content as the company went public via the NYSE on Thursday.
Slack CEO Stewart Butterfield talks about fixing a vulnerability in its new direct messaging feature, the pending deal with Salesforce, and the future of workplace productivity after COVID.
Chrissy Teigen has deleted her popular Twitter account, saying the site no longer plays a positive role in her life.
Posting that photo of yourself next to your vaccination card on social media could potentially make you a target for people trying to steal your personal information.
Cheddar previews the Thursday, March 25, Congressional hearing to feature Facebook CEO Mark Zuckerberg, Twitter CEO Jack Dorsey, and Google CEO Sundar Pichai.
Chelsea Hirschhorn, Frida CEO, talked to Cheddar about the company's new breast care products meant to help women navigate the postpartum period.
A hefty tax benefit helped drive GameStop’s fiscal fourth-quarter profit sharply higher, but the video-game retailer’s sales declined despite a surge in its online business. The latest results fell short of Wall Street’s expectations.
Gregor Robertson, former mayor of Vancouver and executive vice president of strategy at Nexii Building Solutions spoke to Cheddar about raising a Starbucks location with a smaller carbon footprint while staying affordable and efficient.
Prince Harry has joined the corporate world as employee coaching and mental health firm BetterUp Inc.’s Chief Impact Officer.
