Tesla CEO Alon Mesc reached an agreement today with the US Securities and Exchange Commission, which requires the manager to obtain prior approval from the lawyers before citing certain issues.The SEC complained that Musk was contemptuous of the court After he tweeted about Tesla's 2019 production targets in February.
Musk and Tesla paid a fine of $ 20 million last year after the Musk-loaded regulator with "fake and misleading" statements (tweets) on the same potential Taking the company private At a price of $ 420 per share. Twice in February, said the SEC, violated the terms of its settlement, which required lawyers Tesla to sign any of his statements that could affect the share price of the company. The updated compromise, which now conducts prohibited conduct, still needs a judge's approval, but for Twitter user power like Alon, it's sure to dim his style.
He will not be able to quote – or publish other public information – about Tesla's financial performance, production schedule, or forecasts without adult supervision (ie, an experienced lawyer). Communication about earnings reports, potential purchases, sales numbers, and even new business lines will all require prior approval. The agreement could even put an end to Musk's online tricks, like Tesla's Recently announced a quiet, electric leaf blower. (Reasonable joke.) Future future tricks will be branded as boring company or SpaceX to avoid SEC's scrutiny.
In view of the new restrictions, I have a list of things that Moscow is still allowed to quote freely. I hope it can soften the blow.
- Dig holes: You and me, it may sound boring, but to Musk it's totally boring. His tunnel-digging company recently submitted 505 pages on the environment (PDF) to its proposal to build a link between Washington DC and Baltimore. Fortunately, the boring company is "STTA" (sure to tweet about).
- "RIP Harambe": Musk can freely discuss a song released a month ago by his fictional label, Emo G ("Amoggie"). It's about a dead gorilla without known links to Tesla.
- Boring for the company's flashes: Musk can certainly talk about placing things without the permission of his lawyer. Setting Tesla on fire, though, probably does not fly.
- Grimes (now called "c"): Mesc can safely twitter his girlfriend (Browns), but maybe he wants to be careful about addressing her Twit July On the unionization efforts in Tesla. Although it is not explicitly listed in the SEC's list, talking about the Tesla workforce can put Musk in hot water.
- Sheep: Musk has recently demonstrated magic with sheep, much to the amusement of his Twitter followers. As long as it has nothing to do with Tesla, there is nothing baaad about it.