LONDON-The US financial markets regulator has resolved its row with Tesla chief executive Elon Musk over his use of Twitter. The Securities and Exchange Commission (SEC) accused Mr Musk of breaching a court order to not share information which could impact the financial markets, without pre-approval.
Earlier this month a judge ordered the SEC, Tesla and Mr Musk to come to an agreement, rather than sending the matter through the courts.
That agreement, made public today by the SEC, adds greater clarity to the restrictions on Mr Musk’s communications, on Twitter or elsewhere.
It states that Mr Musk may not, without approval of Tesla’s legal team, share information about: The company’s financial condition, statements, or results, including company earnings or guidance on its financial future; Any potential or proposed mergers, acquisitions or related business deals; Production numbers or sales or delivery numbers that differ from what the company’s official statements have already stated; Or new or proposed business lines that differ from what the firm does already, which the SEC characterized as “vehicles, transportation, and sustainable energy products”.