Tesla CEO Elon Musk, SEC settle complaint over his Twitter use
According to a court filing, the two sides agreed to amend the original settlement to be more specific about exactly what types of statements Musk must have approved by lawyers before tweeting them.
In the reworked settlement, the SEC left no wiggle room in that regard. It has now replaced the materiality baseline with a long list of specific Tesla metrics that must be shown to a lawyer before they can be shared.
Tesla TSLA, -5.04% stock gained about 1% in late trading Friday afternoon after the settlement was confirmed. Shares fell 14% in the week to $235.14, their lowest close in more than two years, after Tesla reported large losses in the first quarter.
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