Elon Musk must have tweets approved by lawyer as part of SEC settlement

Tesla CEO Elon Musk has reached an settlement with the US Securities and Exchange Commission (SEC) ending his months-long standoff with the regulator over his social media use.

The deal requires the entrepreneur to have his tweets in regards to the automotive firm pre-approved by a securities lawyer earlier than he hits the tweet button. The association covers a spread of matters regarding the car-maker together with the firm’s monetary well being, manufacturing or supply numbers and any potential mergers.

The SEC introduced the case towards Musk alleging he had violated a earlier settlement requiring oversight of his social media use. The amended settlement locations considerably extra particular restrictions on Musk.

If approved by a US District decide the association would imply that Musk may not be held in contempt of court docket. This would be a optimistic consequence for the CEO who confronted hefty fines and probably dropping his job had he misplaced this most up-to-date battle with the SEC.

It marks a ceasefire in Musk’s protracted spat with the fee which was triggered by the Tesla founder’s informal Twitter use.

A second pair of eyes his Tesla associated tweets might be not a unhealthy thought for a man who referred to as one of the rescuers of the Thai cave boys “pedo guy”. Vernon Unsworth is suing Musk for defamation over the remark and on Friday a federal decide in Los Angeles denied Musk’s request that the case be dismissed.