Elon Musk Settles With SEC, Agrees To Limit Disclosures (Again)

Tesla’s Twitter-happy CEO will have to stick to tweeting memes, as he agrees to avoid company-related disclosures… for real this time.

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Elon Musk Settles With SEC, Agrees To Limit Disclosures (Again) © Elon Musk Settles With SEC, Agrees To Limit Disclosures (Again)

Tesla CEO Elon Musk has reached an agreement with the Securities and Exchange Commission, ending months of controversy over his tweets about the electric car maker's business. In the latest consent order [PDF via Plainsite.org, entire docket here] with the market regulator, Musk agrees to obtain pre-approval by an "experienced securities lawyer employed by the company" of any written communication about a laundry list of Tesla-related topics. 

The new, more specific list of topics Musk is now required to receive oversight of include

Musk's original September 2018 consent order, stemming from fraud charges brought due to his tweets claiming to have secured funding for a company buyout at $420 per share, had been far more vague about communications requiring oversight, simply stating that Musk required "oversight of communications relating to the company." The SEC filed to hold Musk in contempt of the original order earlier this year, alleging that Musk had made repeated forecasts and disclosures about Tesla's business without ever seeking oversight. 

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