CARL AZUZ: It appears a series of tweets has cost a businessman millions of dollars and part of his job. That's the settlement between Elon Musk, a billionaire who co-founded the Tesla Car Company and the U.S. Securities and Exchange Commission which aims to protect investors and keep markets fair. In August, Musk tweeted that he'd secured the money to take Tesla from a publicly held company to a privately held one. Investors liked that idea. The tweet caused Tesla's stock to rise. But government investigators said, Musk has not secured that money. That he mislead investors with the tweet so the SEC sued him. Musk called the lawsuit unjustified and said he always acted in the best interests of truth, transparency and investors.
But on Saturday, he agreed to settle the suit by paying a $20 million fine and stepping away from his job as Chairman of Tesla for three years. Musk is still the company's Chief Executive Officer but losing the Chairman position could mean his power within Tesla is limited. As part of the agreement, the company has also been ordered to pay $20 million for not properly policing Musk's tweet.
Updating you now on the confirmation process for a U.S. Supreme Court nominee. Last Friday, the Senate Judiciary Committee voted along party lines to recommend that Judge Brett Kavanaugh be confirmed to the Supreme Court. That advances his nomination. It's now up to the full Senate to make the final vote on whether to confirm President Donald Trump's nominee. But that vote like the one that the Senate Judiciary Committee has also been delayed because of some Senator's concerns about the testimony we reported on in last Friday's show. President Trump has ordered a new FBI investigation into some of the accusations made against Judge Kavanaugh. That investigation is expected to last a week and the full Senate is expected to hold it's vote after that wraps up.