SEC Calls Elon Musk's Failure To Get Approval For Tweets 'Stunning'

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SEC Calls Elon Musk's Failure To Get Approval For Tweets 'Stunning'
In a filing Monday, the SEC said Musk hasn't made a "good faith effort" to comply with the settlement, which the two sides agreed to last year.
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The U.S. Securities and Exchange Commission says it's "stunning" that Elon Musk didn't get preapproval for any of his tweets about Tesla, despite a court-ordered settlement that required him to do so.

In a filing Monday, the SEC said Musk hasn't made a "good faith effort" to comply with the settlement, which the two sides agreed to last year after the commission charged Musk with misleading investors when he tweeted about taking Tesla private.

As part of the agreement, Musk was forced to step down as chairman of Tesla, pay a $20 million fine and get approval from an internal committee for all of his communications to investors — including tweets.

On Monday, the SEC also repeated its request that a judge hold Musk in contempt of court over a different tweet that the commission said blatantly violated the settlement. Musk has argued that tweet didn't breach the agreement.

Musk's troubles with the SEC come as Tesla continues to deal with a variety of issues, including declining sales and key executives leaving the company.