SEC letters claim Tesla failed to oversee Musk's tweets - WSJ

Reuters2021-06-02

June 1 (Reuters) - U.S. securities watchdog told Tesla Inc

last year that Chief Executive Officer Elon Musk's use of Twitter had twice violated a settlement requiring his tweets to be preapproved by company lawyers, the Wall Street Journal reported

on Monday.

The U.S. Securities and Exchange Commission had ordered the electric car maker to vet any material public communications Musk made regarding Tesla, following Musk's August 2018 tweet that he had "funding secured" to possibly take Tesla private in a $72 billion transaction.

In correspondence sent to Tesla in 2019 and 2020, the SEC said tweets Musk wrote about Tesla's solar roof production volumes and its stock price were not preapproved by Tesla's lawyers, the Journal reported, citing records of communication that have not been previously reported.

"Tesla has abdicated the duties required of it by the court's order," the WSJ reported, citing a letter signed by a senior SEC official.

The SEC and Tesla were not immediately available for comment.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Anil D'Silva)

((Ankit.Ajmera@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

WilsonAng
2021-06-02
WilsonAng
Ahhaa. These tweets are not about DoGe
Singlish
2021-06-02
Singlish
Wow
- Singlish:
  Good
Firestar76
2021-06-02
Firestar76
Please like and comment
- Onlywayisup:
  Reply me pls

Leave a comment

3

9

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2140499477?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-06-02 06:22","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2140499477","market":"us","top_or_hot":-1,"title":"SEC letters claim Tesla failed to oversee Musk's tweets - WSJ","media":"Reuters","content":"<html><body><p>June 1 (Reuters) - U.S. securities watchdog told Tesla Inc</p><p>  last year that Chief Executive Officer Elon Musk's use of <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> had twice violated a settlement requiring his tweets to be preapproved by company lawyers, the Wall Street Journal reported </p><p>on Monday.</p><p>   The U.S. Securities and Exchange Commission had ordered the electric car maker to vet any material public communications Musk made regarding Tesla, following Musk's August 2018 tweet that he had \"funding secured\" to possibly take Tesla private in a $72 billion transaction.</p><p>   In correspondence sent to Tesla in 2019 and 2020, the SEC said tweets Musk wrote about Tesla's solar roof production volumes and its stock price were not preapproved by Tesla's lawyers, the Journal reported, citing records of communication that have not been previously reported.</p><p>   \"Tesla has abdicated the duties required of it by the court's order,\" the WSJ reported, citing a letter signed by a senior SEC official.</p><p>   The SEC and Tesla were not immediately available for comment.</p><p> (Reporting by Ankit Ajmera in Bengaluru; Editing by Anil D'Silva)</p><p>((Ankit.Ajmera@thomsonreuters.com;))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC letters claim Tesla failed to oversee Musk's tweets - WSJ</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC letters claim Tesla failed to oversee Musk's tweets - WSJ\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 06:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>June 1 (Reuters) - U.S. securities watchdog told Tesla Inc  last year that Chief Executive Officer Elon Musk's use of Twitter had twice violated a settlement requiring his tweets to be preapproved by ...</p>\n\n<a href=\"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TSLA","symbol_name":"特斯拉","start_time":0,"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2140499477","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2140499477","pubTimestamp":1622586149,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"June 1 (Reuters) - U.S. securities watchdog told Tesla Inc  last year that Chief Executive Officer E","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"TSLA":"特斯拉"},"translate_title":"SEC信件称特斯拉未能监管马斯克的推文-WSJ","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TSLA":1},"content_text":"June 1 (Reuters) - U.S. securities watchdog told Tesla Inc  last year that Chief Executive Officer Elon Musk's use of Twitter had twice violated a settlement requiring his tweets to be preapproved by company lawyers, the Wall Street Journal reported on Monday.   The U.S. Securities and Exchange Commission had ordered the electric car maker to vet any material public communications Musk made regarding Tesla, following Musk's August 2018 tweet that he had \"funding secured\" to possibly take Tesla private in a $72 billion transaction.   In correspondence sent to Tesla in 2019 and 2020, the SEC said tweets Musk wrote about Tesla's solar roof production volumes and its stock price were not preapproved by Tesla's lawyers, the Journal reported, citing records of communication that have not been previously reported.   \"Tesla has abdicated the duties required of it by the court's order,\" the WSJ reported, citing a letter signed by a senior SEC official.   The SEC and Tesla were not immediately available for comment. (Reporting by Ankit Ajmera in Bengaluru; Editing by Anil D'Silva)((Ankit.Ajmera@thomsonreuters.com;))","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":113948550,"gmtCreate":1622592217570,"gmtModify":1704186822388,"author":{"id":"3569925582252060","authorId":"3569925582252060","authorIdStr":"3569925582252060","name":"WilsonAng","avatar":"https://static.tigerbbs.com/6714edd3d10aa6ed40e648975f4fa743","vip":1,"crmLevel":7,"crmLevelSwitch":1,"idStr":"3569925582252060"},"htmlText":"Ahhaa. These tweets are not about DoGe","listText":"Ahhaa. These tweets are not about DoGe","text":"Ahhaa. These tweets are not about DoGe","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/113948550","repostId":2140499477,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":113930141,"gmtCreate":1622589864683,"gmtModify":1704186733247,"author":{"id":"3581682705103576","authorId":"3581682705103576","authorIdStr":"3581682705103576","name":"Singlish","avatar":"https://static.tigerbbs.com/5543d796a986077e2fa4a07d4fb4d478","vip":1,"hat":"https://static.tigerbbs.com/a3dee1aa3a3a3c1814833a4d3f8a5669","crmLevel":3,"crmLevelSwitch":0,"idStr":"3581682705103576"},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/113930141","repostId":2140499477,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4535816,"gmtCreate":1622589877507,"gmtModify":1680792505312,"authorId":3581682705103576,"author":{"id":3581682705103576,"authorId":3581682705103576,"name":"Singlish","avatar":"https://static.tigerbbs.com/5543d796a986077e2fa4a07d4fb4d478","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":113930141,"type":1,"supId":0,"prevId":0,"content":"Good","text":"Good","html":"Good"}],"langContent":"EN"},{"id":113021280,"gmtCreate":1622587458140,"gmtModify":1704186655737,"author":{"id":"3576904255196158","authorId":"3576904255196158","authorIdStr":"3576904255196158","name":"Firestar76","avatar":"https://static.tigerbbs.com/04c05136600e189530742b7580c693cf","vip":1,"hat":"https://static.tigerbbs.com/646756f1284a5a6480ed02cc4fa7d1d2","crmLevel":7,"crmLevelSwitch":0,"idStr":"3576904255196158"},"htmlText":"Please like and comment&nbsp;","listText":"Please like and comment&nbsp;","text":"Please like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/113021280","repostId":2140499477,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4535442,"gmtCreate":1622588863753,"gmtModify":1680792493976,"authorId":3572481506955360,"author":{"id":3572481506955360,"authorId":3572481506955360,"name":"Onlywayisup","avatar":"https://static.tigerbbs.com/69e8457649d97776b81c071ede05d42d","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-2","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Master Trader","description":"Total number of securities or futures transactions reached 100","bigImgUrl":"https://static.tigerbbs.com/ad22cfbe2d05aa393b18e9226e4b0307","smallImgUrl":"https://static.tigerbbs.com/36702e6ff3ffe46acafee66cc85273ca","grayImgUrl":"https://static.tigerbbs.com/d52eb88fa385cf5abe2616ed63781765","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"80.49%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":113021280,"type":1,"supId":0,"prevId":0,"content":"Reply me pls","text":"Reply me pls","html":"Reply me pls"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":9,"commentSize":3,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.1","shortVersion":"4.28.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2140499477"}