Musk’s battles with regulators tend to be public and messy, occasionally including vulgar taunts. The CEO has expressed his displeasure with the SEC on Twitter.
with making"false and misleading" statements to investors after he announced via Twitter that he had secured funding for a private buyout of Tesla at $420 a share. Following his tweets, Tesla stock went into a period of unusual volatility and the deal Musk alluded to never materialized.
Tesla, Musk and the SEC eventually struck a revised settlement agreement in 2019 to resolve the charges. As part of the deal, Musk had to temporarily relinquish his role as chairman of Tesla's board and to pay a $20 million fine individually. Tesla also had to pay a $20 million fine. Musk and Tesla agreed the celebrity-CEO would have the content of his social media posts approved by a securities law expert before publishing them on occasions when they contained material business information.
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