Tesla Chief Wants To End 2018 Fraud Settlement With SEC: WSJ

March 9, 2022 7:27 AM | 1 min read | Make a Comment

Tesla Inc TSLA CEO Elon Musk requested a federal judge to discard a settlement he reached with SEC regulators in 2018, the Wall Street Journal reports.
The settlement sought the preapproval of some of Musk's tweets.
Musk's lawyers argued that Twitter Inc's TWTR oversight policy became ineffective, while the SEC has abused the deal, which called for "round after round of demands for voluminous, costly document productions, with no signs of abatement."
Musk also debated the SEC's earlier claims that he allegedly defrauded investors in 2018 by tweeting about taking Tesla private at $420.
Musk's request follows a new SEC investigation related to trading by himself and his brother, Kimbal Musk.
Price Action: TSLA shares traded higher by 2.58% at $845.69 in the premarket on the last check Wednesday.