‘Silicon Valley geek’ Elon Musk was sued this time for tweeting.
A Tesla investor reported on the 12th (local time) that Tesla’s board of directors filed a lawsuit against Elon Musk.
In the lawsuit, the investor questioned Musk’s continued sending of’abnormal tweets’ in violation of an agreement with the US Securities and Exchange Commission (SEC).
The investor who filed the lawsuit argued that Musk and Tesla’s board of directors were not upholding the agreement.
Although Musk continues to tweet about possible regulatory sanctions, Tesla’s board of directors has not been properly controlled. He also pointed out that Musk’s actions may lead to a decline in Tesla’s share price.
In the end, it is argued that Tesla’s board of directors and Musk are not implementing an agreement with the SEC.
The person who filed this lawsuit is an investor named Chase Garrity. The fact that he filed a complaint in the Delaware Court on the 8th was revealed on the 12th, TechCrunch said.
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The SEC once sued Elon Musk for fraud in 2018. At the time, the SEC argued that “Musk’s “false and misleading” comments failed to provide adequate notice to the regulatory body overseeing the company’s asset relations.”
The two sides closed the lawsuit with an agreement in April 2019. By agreement at the time, Musk was granted the right to use Twitter whenever he wanted. However, in the case of matters related to specific cases or important financial decisions, prior approval of a lawyer specializing in the Rights of Evidence Law was required.