Thursday, July 29

SEC Says Elon Musk Violated Court Orders

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According to The Wall Street Journal, the SEC stated in its reports that Elon Musk violated the court order in 2019 and 2020.

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The SEC stated that after the agreement with Elon Musk in 2018, Tesla stopped following Elon Musk.

According to records obtained by The Wall Street Journal, the Tesla company’s lawyers were required to audit and approve Elon Musk’s Twitter use. The organizer claimed the court order was violated twice.

The Securities and Exchange Commission filed a lawsuit in 2018, alleging that Elon Musk had engaged in market manipulation. Tesla and Elon Musk agreed with the SEC by paying $ 20 million each. In addition, Musk also agreed to have his social media statements overseen by Tesla lawyers.

In the correspondence sent to Tesla in 2019 and 2020, the SEC’s lawyers stated that this agreement was not complied with.

The SEC told Tesla in May 2020 that the company “failed to enforce these procedures and controls despite repeated violations by Mr. “Tesla waived her duties as required by court order,” the letter, signed by a senior SEC official at her San Francisco office, said. statements were included.

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