The SEC wrote Tesla in 2019 and 2020 about Elon Musk's tweets

That's about as far as the reaction went.

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Richard Lawler
June 1, 2021 11:28 PM
In this article: news, gear, Twitter, Elon Musk, SEC
Tesla CEO Elon Musk uses his mobile device as he sits in the car arriving to the construction site for the new plant, the so-called "Giga Factory", of US electric carmaker Tesla in Gruenheide near Berlin, northeastern Germany. - The site still has only provisional construction permits, but Tesla has been authorised by local officials to begin work at its own risk. Tesla is aiming to produce 500,000 electric vehicles a year at the plant, which will also be home to "the largest battery factory in the world", according to group boss Elon Musk. (Photo by Odd ANDERSEN / AFP) (Photo by ODD ANDERSEN/AFP via Getty Images)
ODD ANDERSEN via Getty Images

In 2018 the government sued Tesla CEO Elon Musk over his tweets about taking the company private after the tweets sent Tesla's stock price down. A settlement in 2019 established rules requiring pre-approval from Tesla lawyers for tweets about certain topics, but as Musk told 60 Minutes, "Well, I guess we might make some mistakes. Who knows?."

If you ask the SEC, two specific tweets were "mistakes," as the Wall Street Journal reports that the agency wrote to Tesla about both incidents, saying that they hadn't been pre-approved per the agreement.

One, about Tesla's stock price being "too high" initiated a lawsuit by a shareholder, and the company described it as falling outside the agreed topics because it's Musk's "personal opinion." While the SEC is apparently "very concerned by Tesla’s repeated determinations that there have been no policy violations because of purported carve-outs," at least so far, it hasn't taken additional action against the company or its CEO.

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