Home Latest News Elon Musk Violates Tesla’s SEC Agreement With Two Tweets

Elon Musk Violates Tesla’s SEC Agreement With Two Tweets

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When Elon Musk tweets, people listen, including the SEC. SOPA Images / Pavlo Gonchar / Getty

Here’s a great financial tip for billionaire Elon Musk: Just log off.

after facing damages of $700 million mostly because of his own tweetMusk has also managed to anger the US Securities and Exchange Commission (SEC) with his tweets.

wall street journal Reports that over the past two years, two of Musk’s tweets have violated the SEC’s court-ordered policy that requires Tesla’s lawyers to pre-approved his tweets.

A 2018 settlement between the two entities led to a settlement after the SEC claimed that Musk had been fraudulent by tweeting about a potential Tesla buyout. Musk had to pay a tidy $20 million on top of Tesla’s $20 million, and he also had to agree to have his (slightly illiterate) social media presence monitored by Tesla lawyers. (he didn’t stop her Mocking the SEC Via Twitter immediately after disposal.)

This time for the tweets that closed the SEC, the organization said “The tweets Mr. Musk wrote about Tesla’s solar roof production volume and its stock price did not pass the necessary approvals by Tesla’s attorneys,” the Journal reports. .

The Wall Street Journal recently disclosed the correspondence the SEC sent to Tesla in 2019 and 2020; In May 2020, the SEC reported in a letter to Tesla that the company “failed to implement these procedures and controls despite repeated violations by Mr. Is done.”

Will Musk stop tweet-trolling for his company’s sake? Will the pigs fly? who’s to say!

Elon Musk managed to breach Tesla's SEC settlement agreement with just two tweets

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