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SEC wants to convict Elon Musk for tweeting

Tesla's happiest CEO is in hot water for violating his SEC agreement.

Robyn Beck / Getty Images

The US Securities and Exchange Commission (US Securities and Exchange Commission) is cracking down on Tesla CEO Elon Musk for breaking the terms of its agreement with the regulator. This emerges from a filing published by the SEC on Monday.

The agreement, which was drafted after Musk's debacle "Musk" Funding in 201

8, banned Musk from using his Twitter account or other social media platforms to distribute information to investors could be considered material or Tesla without prior approval. The SEC's attempt to disparage Musk is probably from a series of tweets earlier in February. In these tweets Musk speculates that Tesla 2019 will produce about 500,000 cars.

The news of the request from the SEC left the shares of Tesla in hindsight for hours trading at the time of publication.

Tesla declined to comment on the matter, and the SEC did not immediately respond to requests for comments.

Updated at 15:58: Included Tesla's response to our request for comment.

Updated at 16:41: Added direct link to the SEC files against Musk.

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