The Securities and Exchange Commission believes Elon Musk has violated his 2018 settlement agreement twice, according to correspondence obtained by The Wall Street Journal between the SEC and Tesla. The agreement requires a lawyer to approve his tweets about the company.
Tesla lawyers didn’t review Musk’s May 2020 tweet about how Tesla’s stock price was “too high imo” before he published it. The company’s lawyers also didn’t approve a July 2019 tweet about Musk’s goal to make 1,000 of Tesla’s solar roofs per week by the end of that year. The SEC sent the letters to Tesla in 2019 and 2020 shortly after each tweet, but has not taken any apparent enforcement action against Musk or the company.