The SEC seized on the initial tweet, and within days investigators were asking Tesla whether the tweet had been pre-approved. In court filings (which Tesla had sought to make confidential), Bradley Bondi, a lawyer for Tesla, acknowledged that the first tweet had not been specifically pre-approved. Instead, it “was intended to recapitulate the information set forth” in forward-looking statements that were made by Tesla and Musk in January, in connection with year-end results.
“Mr. Musk believed that the substance had already been appropriately vetted, pre-approved, and publicly disseminated,” Bondi wrote.
‘Enforcement 40’ for 2020
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