SEC claims authority to subpoena Elon Musk about tweets

KIFI

Published March 22, 2022 10:25 AM

By TOM KRISHER
AP Auto Writer

DETROIT (AP) — U.S. securities regulators say they have legal authority to subpoena Tesla and CEO Elon Musk about his tweets. The Securities and Exchange Commission also says in court documents that Musk’s move to throw out a 2018 agreement that his tweets be pre-approved is not valid. The SEC disclosed publicly in documents filed Tuesday that it is investigating Musk’s Nov. 6, 2021 tweets that asked followers whether he should sell 10% of his Tesla stake. The commission confirmed that it issued administrative subpoenas while investigating whether Musk and Tesla are complying with controls in the 2018 agreement.

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