Tesla CEO Elon Musk and the U.S. Securities and Exchange Commission’s long saga might finally be over — but don’t count on it.
On Friday afternoon, Musk — a voracious tweeter and the head of Tesla, a publicly traded electric car company monitored by the SEC — reached an agreement with the regulatory agency after a February tweet about car production numbers.
Earlier in April, a federal court judge in Manhattan gave Musk and the SEC a few weeks to sort out what the agency considered contempt, even after Musk wrote a clarifying tweet. It was determined that the rules the SEC set for Musk’s tweets were too ambiguous. Musk’s legal team argued at one point that the SEC was trying to take away his First Amendment rights. Read more…
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