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SEC puts Elon Musk in hot water again over Tweets that weren't vetted

Elon Musk has been thrown back into hot water by the SEC after the regulatory agency says Musk has posted unvetted tweets.

@Jak_ConnorTT
Published Wed, Jun 2 2021 4:31 AM CDT   |   Updated Wed, Jun 30 2021 7:31 PM CDT

A new report from The Wall Street Journal has revealed Elon Musk is receiving some heat from the Securities Exchange Commission (SEC) over some unvetted tweets.

SEC puts Elon Musk in hot water again over Tweets that weren't vetted 01 | TweakTown.com

Back in August 2018, Musk tweeted that he had "[f]unding secured" to take Tesla private at the stock price of $420 per share. The SEC ended up charging Musk with securities fraud in September, and after both parties settled, Musk agreed that he would have his public communications (tweets) vetted by the company before they were posted.

The following year Musk tweeted that Tesla would manufacture more cars than what the company officially said it would, as a result, the SEC dragged Musk back to court, where Musk agreed that more specific vetting by Tesla lawyers (two are needed to approve a tweet) would take place before a tweet is posted. Now, the SEC is coming back at Musk over an unvetted tweet from May 2020 where Musk said that Tesla's stock price was "too high imo".

SEC told Tesla in May 2020 that the company failed "to enforce these procedures and controls despite repeated violations by Mr. Musk." Steven Buchholz, a senior SEC official in its San Francisco office, added, "Tesla has abdicated the duties required of it by the court's order."

If you are interested in reading more about this story, check out this link here.

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Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest news. Jak's love for technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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