Tesla, Elon the Mask The US Securities and Exchange Commission (SEC) on Friday reached an agreement that gives the CEO the freedom to use Twitter – with certain restrictions – without fear of being scorned for violating a previous court order.
The musk can be singled out as desired only when it comes to specific events or financial milestones. In these cases, Musk must seek the prior approval of the securities attorney, in accordance with the agreement filed with the Manhattan Federal Court.
American Court Judge Allison Nathan The presiding judge In this regard, the transaction must still agree. Nathan gave the Securities and Exchange Commission two weeks to work to resolve their differences and reach a solution.
The musk must request prior approval if the kit includes:
- Any information on the Company's financial status, guidance, potential or proposed mergers, acquisitions or joint ventures,
- Production numbers, sales or delivery numbers (actual, expected or expected)
- New or proposed business lines that have nothing to do with existing lines of action (currently including vehicles, transport and sustainable energy products);
- Projection, forecasting or estimation figures for Tesla's work that have not been previously published under the Company's official guidance
- Events related to the Company's securities (including the purchase of shares or disposition of shares)
- Non-public legal or regulatory outcomes or decisions;
- Any event requiring the deposit of an 8-K model such as a change in control or a change in the company's managers; a principal executive officer, chief financial officer, chief accounting officer, chief operating officer or any person performing similar functions
The battle between the two parties began after the famous catch-call of August 7, 2018, which secured secured financing for the company's acquisition of $ 420 per share. The SEC filed a complaint In the allegation that Musk had committed fraud in securities.
Musk and Tesla settled with the SEC last year without admitting the mistake. Tesla agreed to pay a fine of $ 20 million; The musk had to agree to step down As President of Tesla for at least three years; the company had appointed independent directors on the board; Tesla was also told to develop a means to monitor Musk's comments to the public about the company, including via Twitter.
The fighting has been rekindled Send a tweet On February 19, Tesla will produce about 500,000 cars this year and correct itself hours later to clarify that it means the company will produce an annual rate of 500,000 vehicles by the end of the year.
The SEC argued that tweet tweet sent by musk violated their agreement. Musk said the twinkle was "immaterial" and complied with the settlement.
The Securities and Exchange Commission asked the court to hold it Musk in contempt In violation of the settlement agreement reached in October last year on the now-popular Meck hedge of "secured financing". The Securities and Exchange Commission (SEC) argued that Musk was supposed to obtain approval from the Tesla Board before informing investors of the material information. The SEC alleged that the February 19 tweet violated the agreement.
Musk consistently confirmed that he did not violate the agreement.