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Elon Musk agreed Saturday to step down as chairman of Tesla and pay a $20 million fine in a deal to settle charges brought this week by the Securities and Exchange Commission.
An SEC press release says the agency asked the court for a "bar prohibiting Musk from serving as an officer or director of a public company."
The stock dropped more than 6 percent Friday to close at $263.24 a share — its lowest point since March of last year.
Utah driver who slammed her Tesla into a stopped firetruck at a red light earlier this year while using the vehicle's semi-autonomous function has sued the company, saying salespeople told her the car would stop on its own in Autopilot mode if something was in its path.
Elon Musk famously tried to take Tesla private at $420 a share. Goldman Sachs thinks the pioneering electric car company is worth half that.
Tesla Inc. was trading at $310.12 on Monday, down $12.70 a share, while the broader markets rallied. Tesla recovered most of that loss, closing at $319.27
First it was the shocking tweet that funding was secured and Tesla may go private, then a statement that the money wasn't locked down after all.
Elon Musk thinks he could take Tesla private at $420 a share. But one Tesla investor thinks that's a bad idea -- because the stock could be worth nearly ten times that amount in the most optimistic of scenarios.
The SEC opened an inquiry shortly after Musk surprised investors with an August 7 tweet revealing that he had lined up the financing to buy all the Tesla stock from shareholders willing to sell.
The electric car company said it lost more than $717.5 million in the second quarter. But it ended up with $2.2 billion in cash at the end of June.
They're worried that the looming phaseout of a $7,500 federal tax credit will put the cost of the car out of their reach.
A former employee hacked into computers at Tesla's Nevada battery factory, stole confidential information and combined it with falsehoods in leaks to the media, the electric car maker alleged in a federal lawsuit.
The National Transportation Safety Board is sending an investigator look into a Tesla battery fire in Southern California.
Authorities say a Tesla sedan in Autopilot mode has crashed into a parked police cruiser in Southern California.
A Tesla that crashed while in Autopilot mode in Utah this month accelerated in the seconds before it smashed into a stopped firetruck, according to a police report obtained by The Associated Press. Two people were injured.
A driver was lucky to escape injury after colliding with a bear that wandered onto an Oregon highway.
The vehicle in a fatal crash last week in California was operating on Autopilot according to the automaker.
California's Olympic Valley plans to enlist Tesla's help in its push to reduce greenhouse gas emissions.
Tesla Motors fired hundreds of workers after completing its annual performance reviews, even though the electric automaker is trying to ramp up production to meet the demand for its new Model 3 sedan.
A sunny stretch of Interstate Highway 580 may have led a bus carrying Tesla employees to fatally rear-end the car of an Alameda County sheriff's deputy on Friday.
Tesla Motors says it has agreed to buy a German engineering company to help automate its electric car manufacturing.
It was the crash the auto industry knew was coming but still feared.
Demand for Tesla's new Model 3 has been eye-popping, with consumers pre-ordering about $13.7 billion worth of the electric sedans nearly two years before they go on sale.
A former Rocklin Unified School District employee and parent volunteer has been arrested following an investigation into an alleged sexual relationship with a minor, officials said.
A nanny is suspected of abusing a child at a park in Lincoln earlier this week, police said on Thursday.
Early warm temperatures are bringing an early start to rattlesnake season across the Central Valley.
Sacramento International Airport issued a warning to travelers about longer wait times for security lines during a partial government shutdown.
Sacramento prosecutors said Amyis Coogler was found guilty of second-degree murder in the death of Corey Shearer, 20.
Lawmakers in the California state legislature said they are moving to designate "Farmworkers Day" as a state holiday following sexual abuse allegations against Cesar Chavez.
A teachers' strike at the Natomas Unified School District in Sacramento ended Thursday morning, after both sides announced a tentative agreement.
A former Rocklin Unified School District employee and parent volunteer has been arrested following an investigation into an alleged sexual relationship with a minor, officials said.
There's a push to start charging property owners who have vacant buildings or undeveloped land in Sacramento, but some are concerned that new fees could discourage development.
The California Board of Parole Hearings voted on Wednesday to reevaluate an elder parole grant for a convicted child predator from Sacramento.
A teachers' strike at the Natomas Unified School District in Sacramento ended Thursday morning, after both sides announced a tentative agreement.
There's a push to start charging property owners who have vacant buildings or undeveloped land in Sacramento, but some are concerned that new fees could discourage development.
More than a dozen people have been killed by cars so far this year on Sacramento streets, and on Tuesday night, the city council debated what can be done to reduce future fatalities.
Twin Rivers Unified School District teachers went on strike nine days ago and, as of Tuesday afternoon, were back at the bargaining table.
Sacramento Metropolitan Fire District crews are investigating an explosion that injured a woman Monday evening at an apartment in the Arden-Arcade area.
Lawmakers in the California state legislature said they are moving to designate "Farmworkers Day" as a state holiday following sexual abuse allegations against Cesar Chavez.
A Chilean national on Monday pleaded guilty to a string of bank and ATM robberies for his role in a robbery crew using sophisticated tactics to steal more than $5 million in California, Oregon and Washington, prosecutors announced on Tuesday.
Serious allegations against late labor leader and civil rights activist Cesar Chavez have prompted the union he co-founded to abstain from this year's Cesar Chavez Day activities.
San Jose, Livermore, Napa, Concord, and many other inland areas will be within reach of the 90° mark, which would either tie or break all-time record warm temperatures for March. The reason? A strong area of high pressure is building overhead.
The war with Iran is now leading to growing concerns among California farmers over a fertilizer shortage, with many fertilizing products coming from shipments that are stuck in the Persian Gulf. tuck in the Persian Gulf.
All eyes are on new San Francisco Giants manager Tony Vitello as he makes the big jump from coaching the University of Tennessee to major league manager despite no previous professional experience as a player or coach.
The WNBA and its players' union reached a verbal agreement on a transformational new collective bargaining agreement early Wednesday morning, both sides said.
Victor Wembanyama had 18 points and eight rebounds, and the San Antonio Spurs beat the Sacramento Kings 132-104 on Tuesday night.
Victor Wembanyama had 18 points and eight rebounds, and the San Antonio Spurs beat the Sacramento Kings 132-104 on Tuesday night.
With the game tied going into the 9th, Eugenio Suárez smacked a double into left-center field to score pinch runner Javier Sonoja for what would prove to be the winning run.
Lawmakers in the California state legislature said they are moving to designate "Farmworkers Day" as a state holiday following sexual abuse allegations against Cesar Chavez.
Advocates said the Van Nuys building looked like an example of "clustering" — a red flag for hospice fraud.
In a resignation letter, Joe Kent said Iran "posed no imminent threat to our nation," and he asserted that "we started this war due to pressure from Israel and its powerful American lobby."
In December, Attorney General Pam Bondi ordered law enforcement officials to prioritize efforts to probe and prosecute groups and individuals belonging to the antifa movement or are deemed "extremist."
A judge blocked a set of changes to the childhood vaccine schedule recommended by allies of Health and Human Services Secretary Robert F. Kennedy, dealing a setback to the Trump administration's efforts to overhaul federal vaccine policy.
Food containing norovirus may smell and taste normal but still cause serious illness if consumed, FDA warns.
HHS Secretary RFK Jr. wants the popular coffee chains to prove their surgery drinks are safe for teens and suggested the Trump administration could place limits on your cup of coffee.
Public health officials say they've confirmed two cases of measles in Sacramento County.
Multiple elephant seal pups along the Northern California coast have tested positive for the deadly avian influenza, or bird flu, according to new research from the University of California.
Here's what to know about TrumpRx, including how it works, who can use it, and how much money it can save.
Finding the perfect dress isn't easy, but now, selling them could become a lot more challenging.
This weekend, Placer County is hosting its annual Sip Into Spring event, offering free or discounted tastings at more than 20 wineries along what's known as the Placer Wine Trail.
From fruits and veggies to car parts, economists project that businesses will pass along the cost of the tariffs to customers.
An economic blackout was underway Friday as activists nationwide encouraged people not to spend their money at large corporations, retailers and fast-food chains for 24 hours.
San Joaquin County's retail theft reporting app has only been around for six months and is already bringing a sense of calmness to local business owners.
President Trump and Gov. Gavin Newsom have made several different claims about California gas prices. Here's what we found.
This year-long investigation provides an unprecedented look at California's one-party supermajority legislature through the eyes of grieving parents who discover how California lawmakers kill popular bills by not voting.
This year-long investigation by CBS News California investigative correspondent Julie Watts examines the many components of California's new tougher-on-crime law.
A Natomas mother demanded that her daughter be exhumed and cremated after a Sacramento cemetery moved her grave without telling the family.
The California Highway Patrol captain accused of workers' compensation fraud was the commander in charge of the fatal Mahaney Park shootout in Roseville, three officers who worked under him at the time of the shootout said.
CBS13 and the Call Kurtis consumer investigative team devised an idea on how to lower what consumers owe on their credit cards -- and it begins with a simple phone call.
No one wants to think about death. However, it's important to plan on what happens to your digital assets after you die.
After spending $18,000 on waterproof laminate floors, a Natomas couple spotted damage after the first cleaning.
More than a year after Hai Pham canceled the trial membership, he kept getting charged every month for it.
A Natomas mother demanded that her daughter be exhumed and cremated after a Sacramento cemetery moved her grave without telling the family.
Six months after a California wildfire destroyed dozens of homes in the Tuolumne County community of Chinese Camp, officials say debris removal is now complete and properties are being returned to their owners.
A man has been arrested and charged in connection with the Tiger Fire that burned 118 acres in California's Amador County last summer and forced evacuations near Pioneer.
A major home developer is rethinking how communities are built in wildfire-prone areas and the future is taking shape in El Dorado County.
San Joaquin County secured a grant aimed at helping to build a wildfire protection plan for the entire county.
More than two dozen structures were destroyed in a wildfire in the eastern Sierra Nevada mountains on Wednesday afternoon, officials said.
A Sacramento County dog picked up thousands of miles from home after he went missing five years ago was reunited with his family on Wednesday.
What started as a suspicious circumstances call for Rancho Cordova police ended with a newborn surprise.
A once-empty lot behind Church of the Cross in north Modesto now hosts a thriving community garden with more than 140 plots and growers from across the globe.
A Sacramento-area middle school history and English teacher is in the running to win big as America's Favorite Teacher, a title her students think she is more than worthy of being awarded.
Junior Romello Bruhn of Woodland Christian High School is closer than ever to scoring 3,000 career points, something only 13 high school athletes have accomplished in California state history.
Early warm temperatures are bringing an early start to rattlesnake season across the Central Valley.
Here's a look at the weather forecast Thursday evening.
Sacramento International Airport issued a warning to travelers about longer wait times for security lines during a partial government shutdown.
A teachers' strike at the Natomas Unified School District in Sacramento ended Thursday morning, after both sides announced a tentative agreement.
A teachers' strike at the Natomas Unified School District in Sacramento ended Thursday morning, after both sides announced a tentative agreement. Ryan Nelson reports.