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Elon Musk's SEC Drama: Has He Gone Too Far?
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Elon Musk's SEC Drama: Has He Gone Too Far?

Knowledge at Wharton·@HashtagPLUS·about 1 month ago
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In the latest drama for Tesla CEO Elon Musk, the SEC said this week that it was “stunned“ that he did not seek pre-approval for tweets he posted about the firm in the months since being ordered by a judge to do so, according to the Los Angeles Times . Over the summer, Musk created a media frenzy and caused stocks to soar when he tweeted that he might take the company private . He later walked back those comments, but they led to $40 million in fines ($20 million to Musk, $20 million to Tesla), the appointment of two independent board directors and the removal of Musk as Tesla’s chairman. Musk’s October settlement with the SEC also said Tesla would appoint an attorney to pre-approve tweets that referenced the company. Now it turns out that the appointed attorney was monitoring the tweets, but not approving them in advance as ordered. This week the SEC repeated its request that Musk be placed in contempt of court because he failed to abide by the court order.…

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