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SEC Stunned That Elon Musk Didn't Get Approval for Tweets

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SEC Stunned That Elon Musk Didn't Get Approval for Tweets

SEC Stunned That Elon Musk Didn't Get Approval for Tweets

In a filing Monday, the SEC said Musk hasn't made a "good faith effort" to comply with the settlement, which the two sides agreed to last year.

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SEC Stunned That Elon Musk Didn't Get Approval for Tweets

The U.S. Securities and Exchange Commission says it's "stunning" that Elon Musk didn't get preapproval for any of his tweets about Tesla, despite a court-ordered settlement that required him to do so.

In a filing Monday , the SEC said Musk hasn't made a "good faith effort" to comply with the settlement, which the two sides agreed to last year after the commission charged Musk with misleading investors when he  tweeted  about taking Tesla private.

As part of the agreement, Musk was  forced to step down  as chairman of Tesla, pay a $20 million fine and get approval from an internal committee for all of his communications to investors — including tweets.

On Monday, the SEC also repeated its request that a judge  hold Musk in contempt of court  over a different tweet that the commission said blatantly violated the settlement.

Musk has argued that tweet didn't breach the agreement.

Musk's troubles with the SEC come as Tesla continues to deal with a variety of issues, including declining sales and key executives leaving the company.



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