Elon Musk tweets on stock price not reviewed by Tesla lawyers, says SEC in complaint letters

The SEC has complained to Tesla in the past that it failed to check Musk's tweets on the company's performance indicators, potentially misguiding investors.

New records reveal that the Securities and Exchange Commission warned Tesla last year of violation of their prior agreement around Elon Musk's tweets. As per the records, the securities regulators pointed out two tweets by the Tesla CEO for the violation. A 2018 agreement between the SEC and Tesla requires a lawyer's approval for any tweets by Elon Musk about the company. The agreement was put in place after Musk was charged with securities fraud for falsely tweeting about securing funds for taking Tesla private. At the time of the tweet, Musk had had only held preliminary talks with Saudi Arabia to fund the company. As a settlement to the charges, Musk agreed to step down as chairman of the Tesla board but remained the CEO of the company. Robyn Denholm was then appointed as the new chair of Tesla's board.