The U.S. Securities and Exchange Commission said it’s “stunning” that Elon Musk didn’t seek pre-approval of any of his tweets about Tesla Inc. in the months since he was ordered by a judge to do so.
Musk’s August tweets about taking Tesla private resulted in $40 million in fines, the appointment of two independent board directors and the replacement of Musk as chairman. His settlement with the SEC, approved by a judge in October, called for Tesla to designate an attorney to pre-approve company-related tweets. The electric-car maker appointed one in late December, but that person is monitoring the tweets in real time, not approving them beforehand.
via SEC Stunned That Musk Failed to Get Pre-Approval of Tweets – Bloomberg.
