Can the SEC really do this given the content of this tweet? Surely they can’t seek approval for every tweet about Tesla? What if he says he’s driving home from “the Tesla factory”. Does this count as a breach if he didn’t seek approval?
The only reason he had to settle in the first place was because he tweeted false, market-moving information via twitter. Maybe Elon should have considered the consequences then.
Why didn’t he just hand over his twitter password to a social media manager and stop tweeting once he lost millions of dollars over the last tweet?
https://www.sec.gov/Archives/edgar/data/1318605/000119312513...
For additional information, please follow Elon Musk’s and Tesla’s Twitter accounts: twitter.com/elonmusk and twitter.com/TeslaMotors
If he's saying he's driving home from the Tesla factory, that isn't material information. Him tweeting that Tesla is going to make 500k vehicles is material information and needs to be vetted by the agreed upon process per the settlement.
But honestly, its not like its that hard to just not tweet about Tesla.