US Judge approves payouts from Elon Musk’s SEC settlement

A federal judge on Friday authorized the payout of $41.53 million to investors who lost money when Elon Musk tweeted about taking his electric car company Tesla private.

Payouts will come from a “fair fund” created under a settlement between Musk and the US Securities and Exchange Commission, arising from Musk’s August 2018 post on Twitter that he had “funding secured” for a Tesla buyout.