The Securities and Exchange Commission (SEC) denied Tesla CEO Elon Musk’s assertion that the federal agency is trying to “chill” his free speech.
After Musk …
The Securities and Exchange Commission (SEC) denied Tesla CEO Elon Musk’s assertion that the federal agency is trying to “chill” his free speech. After Musk said on Twitter in 2018 that he wanted to take Tesla private, the SEC — which is charged with regulating public markets — reached a settlement with the billionaire entrepreneur in order to limit his social media use related to Tesla. However, the SEC has not distributed the $40 million in collected fines to shareholders and continues to subpoena Tesla regarding Musk’s social media use, according to a filing earlier this week. The Wall Street Journal reported that the agency believes “its engagement with Tesla and Mr. Musk about how they comply with the policy is consistent with the expectations of the court overseeing the settlement.” “The commission’s enforcement staff have… sought to meet and confer with counsel for Tesla and Mr. Musk to address any concerns regarding Tesla and Mr. Musk’s compliance,” wrote senior SEC official Steven Buchholz in a letter to a Manhattan federal judge.
