SEC 'stunned' Musk didn't seek required approval for Tesla tweets

SEC 'stunned' Musk didn't seek required approval for Tesla tweets

5 years ago
Anonymous $Dftgs0JzgE

https://www.cnet.com/roadshow/news/sec-stunned-musk-didnt-seek-required-approval-for-tesla-tweets/

"The pre-approval requirement was designed to protect against reckless conduct by Musk going forward," SEC lawyers wrote in a filing Monday (see below). "It is therefore stunning to learn that, at the time of filing of the instant motion, Musk had not sought pre-approval for a single one of the numerous tweets about Tesla he published in the months since the Court-ordered pre-approval policy went into effect."

The SEC's filing goes on to call Musk's interpretation of the settlement agreement "inconsistent with the plain terms of this Court's order and renders its preapproval requirement meaningless."

SEC 'stunned' Musk didn't seek required approval for Tesla tweets

Mar 19, 2019, 1:15am UTC
https://www.cnet.com/roadshow/news/sec-stunned-musk-didnt-seek-required-approval-for-tesla-tweets/ > "The pre-approval requirement was designed to protect against reckless conduct by Musk going forward," SEC lawyers wrote in a filing Monday (see below). "It is therefore stunning to learn that, at the time of filing of the instant motion, Musk had not sought pre-approval for a single one of the numerous tweets about Tesla he published in the months since the Court-ordered pre-approval policy went into effect." > The SEC's filing goes on to call Musk's interpretation of the settlement agreement "inconsistent with the plain terms of this Court's order and renders its preapproval requirement meaningless."