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IPFS News Link • Social Networking/Social Media

In "Clear Win For Elon Musk", SEC And Tesla CEO Reach Settlement Over His Tweeting

• https://www.zerohedge.com, By Tyler Durden

Late on Friday, Tesla's outspoken, if increasingly unpredictable and chaotic CEO, and the Securities and Exchange Commission said in a court that they are settling the long-running legal dispute over how Musk posts news about his electric-car company, avoiding a decision by a federal judge in New York on whether the billionaire should be held in contempt of court.

In the new settlement - which was the direct result of the SEC demanding the judge find Musk in contempt for his brazen violation of his prior settlement arising from his "funding secured" lawsuit - The SEC and Musk agreed to amend an earlier settlement to add specific topics he can't tweet about or otherwise communicate in writing without explicit pre-approval from a Tesla lawyer. They include:

the company's financial condition,

potential mergers or acquisitions,

production and sales numbers,

new or proposed business lines,

previously unpublished projections and forecasts, and

Musk's purchase or sale of Tesla securities.


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