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 DurdenLate 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previously unpublished projections and forecasts, and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.