TWITTER-M&A/MUSK SEC Submits Tesla Subpoena Against Elon Musk's Tweets
In 2018, Musk asked his «Twitter» followers if he should sell 10% of Tesla stock to pay off his stock options tax bill
On Monday, electric vehicle maker Tesla said it had received a second subpoena from the Securities and Exchange Commission (SEC) in connection with tweets by its chief executive officer, Elon Musk, in 2018.
In 2018, Musk tweeted ” that Tesla should become a private, non-listed company.
Tesla said in a statement that it received the subpoena on June 13th. The first regulatory subpoena was sent to the company in November in connection with an SEC lawsuit requiring Musk's tweets to be checked for information regarding significant corporate events.
The November subpoena came just days after Musk asked his Twitter followers if he should sell 10% of Tesla's shares in order to pay a tax bill for stock options.
The company said on Monday that will cooperate with government agencies. The SEC declined to comment.
In 2018, Musk settled a regulator's lawsuit over his delisting tweets, agreeing that the company's lawyers had pre-approved tweets containing material information about the company.
In June, Musk appealed a judge's refusal to terminate this 2018 agreement with the SEC.
In an effort to revoke his 2018 agreement with the SEC, Musk, who advocates “absolute freedom of speech,” said, that his “funding secured” tweet was true.
Recall that Twitter recently sued Musk for refusing to buy the social platform for $44 billion, and now Musk is preparing for a trial that should start in October.