• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Sunday, June 15, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

US SEC asks Elon Musk to stick to the deal regarding tweets

by Disha Mitra
March 23, 2022
in Business, News, Popular, Tech
Reading Time: 2 mins read
0
SEC

Source: Yahoo Finance

TwitterWhatsappLinkedin
Musk
SEC asks Musks to be bound by deal made on tweets
Source: The New Yorker

A regulator of the Securities and Exchange Commission, this week, pleaded to a federal judge to not let Elon Musk leave an agreement. The agreement specifies the monitoring of the Tesla Chief Executive’s Twitter. For a while now, Musk has referred to this as part of a harassment campaign towards him.

You might also like

Gavin Newsom Accuses Trump Administration of Spreading Fake Protest Images

Viewers Face Longer Waits as YouTube Rolls Out More Unskippable Ads

OpenAI’s Sam Altman Reveals How Much Energy a ChatGPT Query Needs

The US securities regulator brought forward the concern in a filing in the federal court in Manhattan. He mentioned how the Tesla founder had failed to meet his “high burden” to set aside a consent decree from 2018. The decree made it necessary for Tesla attorneys to approve tweets and other forms of public statements. These tweets and statements refer to the ones that could be material to the EV company. Musk finding the decree inconvenient and urging to stop SEC’s investigations is not enough to resolve to issue.

Additionally, the organisation pushed the US District Judge who oversees the decree, Alison Nathan for another action. The agency wanted the judge to reject Musk’s request to repeal a subpoena asking for more paperwork. This paperwork referred to the ones related to his Twitter Poll from November 2021 asking whether he should sell 10% of his Tesla stock. Musk’s lawyer, Alex Spiro, along with Tesla, did not comment on the situation when requested.

Meanwhile, Musk appeared to enjoy himself at the opening of Tesla’s very first factory in Europe near Berlin, Germany. On the other hand, he has emerged as the world’s richest owing to Tesla’s Shanghai factory.

“When it comes to civil settlements, a deal is a deal, absent far more compelling circumstances than are here presented,” the SEC said.

SEC’s dispute emerges from the claims of the regulator that the Tesla CEO defrauded investors on August 7, 2018. He cheated them by his tweet where he stated that he had ‘funding secure’ to potentially take his company private at a premium. However, a buyout was not close in reality. Musk and his electric car company settled by paying a civil fine of $20 million each. Additionally, Musk had to give up his position of Tesla’s chairman. Since then, the Tesla founder had accused SEC of relentless investigations on him.

However, the agency pointed out they had a “legitimate” reason and authority for investigating Musk and his company. They mentioned how he could only fight the “harassment” through this subpoena by means of a counter subpoena.

The subpoena referred to the tweet by Elon Musk which was directed at users of the platform. The tweet stated that he would let go of 10% of his stake at Tesla if they approved on the poll. In turn, most of them did. As a result, Tesla saw a fall in its share price leading to Musk selling over $16 billion of Tesla stock.

 

Tags: Elon MuskSocial MediaSpaceXTeslatwitterUS SEC
Tweet54SendShare15
Previous Post

HUL in race to buy majority stake in MDH Spices

Next Post

Elon Musk cuts a red ribbon at Giga Berlin as the manufacturing starts

Disha Mitra

Recommended For You

Gavin Newsom Accuses Trump Administration of Spreading Fake Protest Images

by Anochie Esther
June 15, 2025
0
Trump

California Governor Gavin Newsom has accused the Trump administration and the U.S. Department of Defense (DoD) of spreading disinformation in an alleged attempt to justify the military deployment...

Read more

Viewers Face Longer Waits as YouTube Rolls Out More Unskippable Ads

by Sneha Singh
June 15, 2025
0
Viewers Face Longer Waits as YouTube Rolls Out More Unskippable Ads

YouTube watchers, prepare to wait a little longer before your favorite videos begin playing. The Google-owned site is experimenting with a new ad format that may make your...

Read more

OpenAI’s Sam Altman Reveals How Much Energy a ChatGPT Query Needs

by Sneha Singh
June 15, 2025
0
OpenAI’s Sam Altman Reveals How Much Energy a ChatGPT Query Needs

ChatGPT is easy to use, but each of your inquiries carries an imperceptible environmental cost. OpenAI CEO Sam Altman recently lifted the veil on just what that cost...

Read more
Next Post
Elon Musk Dances Again As He Delivers First Berlin-Made Model Ys

Elon Musk cuts a red ribbon at Giga Berlin as the manufacturing starts

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?