*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.
Pinterest CRO, Jon Kaplan, joined Cheddar to discuss the surge in activity on the app amid the pandemic. Kaplan also talks new features coming to the social media app.
Activist, Erin Brockovich joined Cheddar to advocate for 911 operators to be classified as first responders and address problems plaguing the water supply in U.S. communities.
A federal judge has halted a ban on TikTok's U.S. operations until at least November 12th when President Trump called for a complete ban of the social media platform. Cheddar's Michelle Castillo reports on the turbulent timeline of Trump's intervention with the social media app.
Kyle Malady, chief technology officer at Verizon, joined Cheddar to discuss the new MEC technology that he said would allow the development of "new and exciting products."
Uber can keep operating in London after it won its appeal of a decision by the British capital’s transit regulator not to renew its license.
Future moon explorers will face ultrahazardous radiation levels. That's the conclusion of a new study published by Chinese and German scientists Friday.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
VIA optronics is making its debut on the NYSE after the company raised $93.8 million. Jurgen Eichner, CEO, joined Cheddar to discuss taking the company public and the company's success amid the pandemic.
Ohio Rep. Bob Latta joined Cheddar to discuss new safety legislation he's introduced for autonomous vehicles. The Self-Drive Act will create a national standard for operation of self-driving cars.
As undocumented immigrants navigate life in America, we're hearing a firsthand account of what it's like seeking higher education while being undocumented. Sarahi Espinoza Salamanca, founder and CEO of DREAMers Roadmap, joined Cheddar to discuss how to app helps other undocumented immigrants find funds to pay for school.
