The comparatively bizarre duration dispute between Elon Musk and the U.S. securities and exchange Commission is approaching its end. Both sides have agreed, the conditions under which the Tesla boss in the future tweet.
Elon Musk on the way to the Federal court in New York (archive image from 4. April)
The multi-billionaire on Twitter like a lot and fast, and only moderately for any negative consequences. The speech is, of course, Elon Musk, the founder and sponsor of such an innovative company such as Tesla, Space X, Hyperloop or the Boring Company. Some of his Tweets had caused the mighty U.S. securities and exchange Commission SEC to the Plan, the sitting with him since then in the neck.
Started the dispute last August, had tweeted, as Musk lightly, he will take Tesla may be from the stock exchange. 420 dollars he wanted to pay per share, completely without problems, because the financing is secured. The hustle and bustle on the stock exchange was remarkable.
The first comparison
It was also remarkable, as Musk wanted to bend the thing straight again. He reported an “unbearable” burden of 120 hours of work per week, which he can do only with sleeping pills. The Tweet he had stopped just on the way to the airport. The SEC sued him anyway. Because Of The Fraud.
Casual, successful, admired: Elon Musk in favorite pose
Before a court in Manhattan with the first comparison. Musk was forced to resign as a Tesla-Chairman of the Supervisory Board back and as well as the company a large fine to pay. But above all, his Twitter communication was made subject to conditions.
Exactly, however, Musk had failed, according to the sec, however, as he is in the middle of February tweeted that Tesla will produce in 2019, around 500,000 cars.
Before a year was spent on the target of 400,000 vehicles. Musk, the hastily moved along, the SEC is involved, nevertheless, because of the Tesla-CEO have broken the Agreement.
The second comparison
From now on, is defined in detail, which public Comments must Musk of the in-house lawyers sign off on. It is about Tesla’s financial situation, purchases, production figures, annual targets and credit agreements, as well as in addition to Musks transactions with Tesla shares. This second agreement between the Musk and the SEC has yet to be a judge confirmed.
Investors react been easier. In after-hours trading, Tesla shares rose 1.4 percent. For Musk and Tesla, the disregard of the SEC could have been much worse, experts say.
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Tesla – the battle for the future of the car
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