Quote:
Originally Posted by JSH
From the SEC settlement:
Within 90 days of the filing of the settlement documents, Tesla will:
Further enhance controls with respect to Elon’s public communications regarding Tesla and to pre-approve any such written communications that
contain, or reasonably could contain, information material to Tesla or its stockholders.
Employ or designate from among its existing personnel an experienced securities lawyer, subject to approval by the Staff, to advise on securities
issues relating to Tesla and to ensure compliance with Tesla’s disclosure policy
Pretty clear. The tweet contained information material to Tesla. It had to be pre-approved.
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I think the information he's disseminating needs to be novel to be material. If he's just restating something from the earnings call or quarterly update letter, then that's not material info. For example...
https://twitter.com/elonmusk/status/1100646870601220098