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Elon Musk and SEC reach an agreement on his Twitter use


As far back as Elon Musk tweeted about taking Tesla private his utilization of the stage has been troublesome in the administration’s eyes, however today the CEO achieved an amended agreement with the SEC. As per Reuters, on the off chance that a judge affirms the arrangement, at that point charges of contempt in his prior settlement will be dropped. It necessitates that Musk gets an earlier endorsement from Tesla’s legal office when he owns open expressions about the organization’s finances

In December, Musk told an hour “I don’t respect the SEC” and referred to the First Amendment. The SEC tried to hold him in scorn because of a February tweet that exaggerated what number of vehicles Tesla anticipated to assemble this year. A copy of the agreement, uploaded by BBC reporter Dave Lee, shows the specific language added that explains:

  • the Company’s financial condition, statements, or results, including earnings or guidance
  • potential or proposed mergers, acquisitions, dispositions, tender offers, or joint ventures
  • production numbers or sales or delivery numbers (whether actual, forecasted, or projected) that have not been previously published via pre-approved written communications issued by the Company (“Official Company Guidance”) or deviate from previously published Official Company Guidance
  • new or proposed business lines that are unrelated to then-existing business lines (presently includes vehicles, transportation, and sustainable energy products)
  • projection, forecast, or estimate numbers regarding the Company’s business that have not been previously published in Official Company Guidance or deviate from previously published Official Company Guidance
  • events regarding the Company’s securities (including Musk’s acquisition or disposition of the Company’s securities), credit facilities, or financing or lending arrangements
  • nonpublic legal or regulatory findings or decisions
  • any event requiring the filing of a Form 8-K by the Company with the Securities and Exchange Commission
  • such other topics as the Company or the majority of the independent members of its Board of Directors may request, if it or they believe pre-approval of communications regarding such additional topics would protect the interests of the Company’s shareholder

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