By Jonathan Stempel NEW YORK (Reuters) - A federal judge on Friday authorized the payout of $41.53 million to investors who lost money when Elon Musk ...
Update on Halifax Serval Cat | SaltWireNEW YORK - 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.
Musk did not in fact have funding lined up, and many investors suffered losses because the tweet made Tesla's stock price more volatile. Last week, the SEC said 3,350 claimants would share the $41.53 million payout, recouping 51.7% of their losses. The average payout would be about $12,400.
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