The next confrontation between the founder and owner of SpaceX and Tesla's General Director, Ilane Musk, with the Securities and Exchange Commission (SEC) was resolved by signing a new contract. The billionaire stepped in and agreed to a tighter supervision of the posts on his Twitter page on Tesla-related posts.
Recall that the US Securities and Exchange Commission filed a lawsuit against Ilan Musk and requires its removal from the Tesla administration. The cause of the lawsuit is the unfortunate tweeting of August 2018: "I think turning Tesla into a private company at a price of $ 420"The SEC asked Mssk to be removed from the Tesla administration under a complete ban on running any public company, and Mssk and Tesla paid a total of $ 40 million and left the board chair.
But in February of this year Mashk released another seemingly innocuous tweed with a photo of thousands of new Tesla electric vehicles designed for the European market, and said he set the target in 2019 to produce 500,000 electric cars.
Tesla made 0 cars in 2011, but will make about 500k in 2019
– Elon Musk (@elonmusk) February 20, 2019
The SEC considered this publication as a breach of the previous agreement and stated that Mssk, without warning investors, revealed important data about the company's activities. The billionaire criticized the SEC for having previously analyzed the shorthand of the meeting with investors and analysts, and that everything was transparent, and everyone knew what Tesla's plans were.
Manhattan District Court Judge Christopher Nolan has called both sides to resolve the dispute. A new agreement has been reached.
The deal is rather long and strongly restricts Illen Musk on what he can write about Twitter for his auto company.
The agreement is yet to be approved by the court.