Musk, SEC settle dispute over tweets; Musk accepts oversight
WASHINGTON (AP) — Elon Musk and U.S. securities regulators have settled their dispute over the Tesla CEO’s tweets, with Musk agreeing to having his future communications regarding the electric-car maker pre-approval by a company-employed expert.
The Securities and Exchange Commission and Musk reached the agreement, which they detailed in filings Friday in federal court in Manhattan. The agreement must be approved by U.S. District Judge Alison Nathan, who has presided over the case.
The deal means Musk would no longer face the threat of being held in contempt as the SEC has demanded.
The agreement requires Musk to get approval in advance from “an experienced securities lawyer” employed by Tesla before he issues any written communication on a wide range of financial topics detailed in the documents.