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Musk and exchange Commission agree

Tesla CEO Elon Musk and the U.S. securities and exchange Commission SEC have reached an agreement in the dispute about the Social Media activities of the Tech-billionaire. The compromise regulates the conditions under which the Musk in the future tweet. This is evident from a Friday to the competent court in New York on the application submitted. Judge Alison Nathan has to agree to the Deal but still.

it was Agreed that Musk is allowed to spread no more information on his own authority in a written Form, the Tesla's share price could affect. The concerns about submissions to Finance, production targets, Acquisitions and mergers - in short, pretty much all from the point of view of trading on the important issues. Any communication in this regard to Musk in advance of a securities matters experienced attorney to approve, it said.

contempt of court

The dispute revolves around a comparison from the previous year, the Musks Twitter communication had already been made subject to conditions. Musk had to step down as Tesla-Board of Directors, the chief back, as well as the company has a high fine to pay. Against the agreement, he is supposed to have according to the SEC, but later failed. The overseer, a punishment called for it Musks because of contempt of court. Specifically, it was a Tweet from February, in the Musk, according to the SEC false information to Tesla's production goals, should have made for the current fiscal year.

The original settlement was concluded, after Musk, investor in Twitter with half-baked plans had irritated to a stock market retreat of Tesla's. The SEC had sued Musk due to market manipulation. The supervision wanted to prohibit Musk first, the group's chair. Then they agreed on the compromise, the Tesla chief, according to the SEC, however, not have kept. (roy/SDA)

Created: 27.04.2019, 02:25 PM

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