The Securities and Exchange Commission has summoned Tesla Inc. for information on compliance with a court-ordered settlement that required the company’s attorney to pre-approved certain tweets from Elon Musk.
Tesla said in a regulatory filing made public on Monday that the SEC is seeking information about “governance processes around compliance” with a settlement related to Musk’s 2018 tweet, which it claimed could potentially The electric-vehicle maker has safe funding to take private.
Mr. Musk paid $20 million to settle an SEC enforcement action alleging he fraudulently tweeted about a potential purchase and was asked by Tesla’s attorney to oversee his social media posts and other public statements. agreed to. He also agreed to step down from his role as the company’s chairman.
Tesla said in a securities filing that the SEC issued the subpoena on Nov. 16.
Tesla did not immediately respond to a request for comment. The SEC declined to comment.
This story has been published without modification to the text from a wire agency feed
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