A U.S. Securities and Exchange commissioner on Tuesday criticized a settlement b...
- A U.S. Securities and Exchange commissioner on Tuesday criticized a settlement between the regulator and Tesla Inc CEO Elon Musk over his use of Twitter.
However, SEC commissioner Robert Jackson registered his dissent after the deal was approved by a federal judge earlier on Tuesday. U.S. District Judge Alison Nathan in Manhattan approved the deal worked out on Friday that settled the dispute in which the SEC had sought to find Musk in contempt of a securities fraud settlement last year.The new deal lays out in more detail what types of statements by Musk must be reviewed by Tesla’s legal counsel before publication, such as financial statements, previously unreported production or delivery numbers, and other topics.
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