Tesla CEO Elon Musk and the U.S. securities and exchange Commission SEC have reached an agreement in the dispute about the Social Media activities of the Tech-billionaire. The compromise regulates the conditions under which the Musk in the future tweet. According to a on Friday (local time) to the competent court in New York on the application submitted. Judge Alison Nathan has to agree to the Deal but still.
it was Agreed that Musk is allowed to spread no more information on his own authority in a written Form, the Tesla’s could affect the share price. The concerns about submissions to Finance, production targets, Acquisitions, and mergers, all from the point of view of trading on the important issues. Any communication in this regard to Musk in advance of a securities matters experienced attorney to approve.
The dispute revolves around a comparison from the previous year, which had made Musks Twitter-communication is already subject to conditions, against which he was according to the SEC, but then. Specifically, a Tweet from February, in the Musk, according to the SEC false information to Tesla’s production targets for the current fiscal year.The requested rather, therefore, a penalty for contempt of court.
The original comparison was made, after Musk, investor in Twitter with half-baked plans had irritated to a stock market retreat of Tesla’s. The SEC sued him because of market manipulation.
The supervisor wanted to let Musk’s first Chairman of the Board prohibit. Then they agreed on the compromise that the Tesla CEO believes that the SEC did not, however.