Paris (AFP) – Tesla CEO Elon Musk is seeking to terminate an agreement with the US Stock Exchange (SEC) that requires him to obtain the approval of a competent attorney before posting any message directly related to Tesla’s activity on social networks.
The head of the electric car group, who is used to causing controversy on Twitter, asked a New York judge on Tuesday to scrap the 2018 agreement.
Alex Spiro, the billionaire’s attorney, said in a letter to the judge that the Securities and Exchange Commission seeks to “harass Tesla and silence Musk.”
The obligation to pre-approval of the messages was one of the penalties imposed by the Securities and Exchange Commission after a 2018 tweet in which Elon Musk claimed he had the appropriate funding to pull Tesla out of the stock market without providing evidence of his words.
After another misleading tweet in early 2019, Musk agreed on the condition that he obtain prior approval for his posts directly related to Tesla’s business.
But Musk says he was “forced” to do so under the threat of a lawsuit from the SEC.
In the lawsuit, Musk said the 2018 tweet was “written when I was thinking about taking Tesla out of the stock market, and I was getting funding and backing from investors.”
“I have never lied to shareholders,” he added. I would never lie to them. I agreed to an agreement with the Stock Exchange in order for Tesla to remain in the interest of shareholders.”
His team blames the Securities and Exchange Commission for conducting “relentless” investigations into Musk’s tweets over the past four years.
In November, Elon Musk sold $6.9 billion worth of Tesla stock in one week, in one of the biggest deals in such a tight period, without the sale being forced or tied to a bequeathing process.
Even before the regulator released the first documents about the sale, Musk conducted a Twitter poll to see if he should give up 10 percent of his Tesla stock. Out of 3.5 million voters, 57.9% supported this move.
The Wall Street Journal reported that the Securities and Exchange Commission has opened an investigation to determine whether the 50-year-old South African-born Musk and his brother were involved in insider trading in the stock sale.
The share price had fallen in the wake of the poll.
The regulator is wondering whether Elon Musk has notified his brother, who is also a member of the Tesla board of directors, that he will publish this tweet, and whether Kimbal Musk has taken advantage of the situation.
The Securities and Exchange Commission did not immediately respond to AFP’s calls.
Paris (AFP) – Tesla CEO Elon Musk is seeking to terminate an agreement with the US Stock Exchange (SEC) that requires him to obtain the approval of a competent attorney before posting any message directly related to Tesla’s activity on social networks.
The head of the electric car group, who is used to causing controversy on Twitter, asked a New York judge on Tuesday to scrap the 2018 agreement.
Alex Spiro, the billionaire’s attorney, said in a letter to the judge that the Securities and Exchange Commission seeks to “harass Tesla and silence Musk.”
The obligation to pre-approval of the messages was one of the penalties imposed by the Securities and Exchange Commission after a 2018 tweet in which Elon Musk claimed he had the appropriate funding to pull Tesla out of the stock market without providing evidence of his words.
After another misleading tweet in early 2019, Musk agreed on the condition that he obtain prior approval for his posts directly related to Tesla’s business.
But Musk says he was “forced” to do so under the threat of a lawsuit from the SEC.
In the lawsuit, Musk said the 2018 tweet was “written when I was thinking about taking Tesla out of the stock market, and I was getting funding and backing from investors.”
“I have never lied to shareholders,” he added. I would never lie to them. I agreed to an agreement with the Stock Exchange in order for Tesla to remain in the interest of shareholders.”
His team blames the Securities and Exchange Commission for conducting “relentless” investigations into Musk’s tweets over the past four years.
In November, Elon Musk sold $6.9 billion worth of Tesla stock in one week, in one of the biggest deals in such a tight period, without the sale being forced or tied to a bequeathing process.
Even before the regulator released the first documents about the sale, Musk conducted a Twitter poll to see if he should give up 10 percent of his Tesla stock. Out of 3.5 million voters, 57.9% supported this move.
The Wall Street Journal reported that the Securities and Exchange Commission has opened an investigation to determine whether the 50-year-old South African-born Musk and his brother were involved in insider trading in the stock sale.
The share price had fallen in the wake of the poll.
The regulator is wondering whether Elon Musk has notified his brother, who is also a member of the Tesla board of directors, that he will publish this tweet, and whether Kimbal Musk has taken advantage of the situation.
The Securities and Exchange Commission did not immediately respond to AFP’s calls.
Paris (AFP) – Tesla CEO Elon Musk is seeking to terminate an agreement with the US Stock Exchange (SEC) that requires him to obtain the approval of a competent attorney before posting any message directly related to Tesla’s activity on social networks.
The head of the electric car group, who is used to causing controversy on Twitter, asked a New York judge on Tuesday to scrap the 2018 agreement.
Alex Spiro, the billionaire’s attorney, said in a letter to the judge that the Securities and Exchange Commission seeks to “harass Tesla and silence Musk.”
The obligation to pre-approval of the messages was one of the penalties imposed by the Securities and Exchange Commission after a 2018 tweet in which Elon Musk claimed he had the appropriate funding to pull Tesla out of the stock market without providing evidence of his words.
After another misleading tweet in early 2019, Musk agreed on the condition that he obtain prior approval for his posts directly related to Tesla’s business.
But Musk says he was “forced” to do so under the threat of a lawsuit from the SEC.
In the lawsuit, Musk said the 2018 tweet was “written when I was thinking about taking Tesla out of the stock market, and I was getting funding and backing from investors.”
“I have never lied to shareholders,” he added. I would never lie to them. I agreed to an agreement with the Stock Exchange in order for Tesla to remain in the interest of shareholders.”
His team blames the Securities and Exchange Commission for conducting “relentless” investigations into Musk’s tweets over the past four years.
In November, Elon Musk sold $6.9 billion worth of Tesla stock in one week, in one of the biggest deals in such a tight period, without the sale being forced or tied to a bequeathing process.
Even before the regulator released the first documents about the sale, Musk conducted a Twitter poll to see if he should give up 10 percent of his Tesla stock. Out of 3.5 million voters, 57.9% supported this move.
The Wall Street Journal reported that the Securities and Exchange Commission has opened an investigation to determine whether the 50-year-old South African-born Musk and his brother were involved in insider trading in the stock sale.
The share price had fallen in the wake of the poll.
The regulator is wondering whether Elon Musk has notified his brother, who is also a member of the Tesla board of directors, that he will publish this tweet, and whether Kimbal Musk has taken advantage of the situation.
The Securities and Exchange Commission did not immediately respond to AFP’s calls.
Paris (AFP) – Tesla CEO Elon Musk is seeking to terminate an agreement with the US Stock Exchange (SEC) that requires him to obtain the approval of a competent attorney before posting any message directly related to Tesla’s activity on social networks.
The head of the electric car group, who is used to causing controversy on Twitter, asked a New York judge on Tuesday to scrap the 2018 agreement.
Alex Spiro, the billionaire’s attorney, said in a letter to the judge that the Securities and Exchange Commission seeks to “harass Tesla and silence Musk.”
The obligation to pre-approval of the messages was one of the penalties imposed by the Securities and Exchange Commission after a 2018 tweet in which Elon Musk claimed he had the appropriate funding to pull Tesla out of the stock market without providing evidence of his words.
After another misleading tweet in early 2019, Musk agreed on the condition that he obtain prior approval for his posts directly related to Tesla’s business.
But Musk says he was “forced” to do so under the threat of a lawsuit from the SEC.
In the lawsuit, Musk said the 2018 tweet was “written when I was thinking about taking Tesla out of the stock market, and I was getting funding and backing from investors.”
“I have never lied to shareholders,” he added. I would never lie to them. I agreed to an agreement with the Stock Exchange in order for Tesla to remain in the interest of shareholders.”
His team blames the Securities and Exchange Commission for conducting “relentless” investigations into Musk’s tweets over the past four years.
In November, Elon Musk sold $6.9 billion worth of Tesla stock in one week, in one of the biggest deals in such a tight period, without the sale being forced or tied to a bequeathing process.
Even before the regulator released the first documents about the sale, Musk conducted a Twitter poll to see if he should give up 10 percent of his Tesla stock. Out of 3.5 million voters, 57.9% supported this move.
The Wall Street Journal reported that the Securities and Exchange Commission has opened an investigation to determine whether the 50-year-old South African-born Musk and his brother were involved in insider trading in the stock sale.
The share price had fallen in the wake of the poll.
The regulator is wondering whether Elon Musk has notified his brother, who is also a member of the Tesla board of directors, that he will publish this tweet, and whether Kimbal Musk has taken advantage of the situation.
The Securities and Exchange Commission did not immediately respond to AFP’s calls.