It was classic
But this time, Musk is unlikely to incur the wrath of regulators with the
Musk has been telegraphing a potential stock sale because of taxes for months. Even though Tesla
“He’s acting in his capacity as a shareholder. He could use a Ouija board to decide when to buy and sell shares,” said
The terms of a settlement agreement with the SEC require that Musk get approval from Tesla’s designated disclosure or securities counsel -- cheekily known as his
But a Twitter poll is just that: a nonbinding theatrical exercise. There’s been no regulatory filing indicating an actual sale. It’s also possible that Musk actually pre-cleared his weekend tweets with Tesla’s designated lawyer. If he didn’t, it’s not clear that the SEC would do anything.
Who the Twitter Sitter is has always been a bit of a guessing game, as Tesla’s legal department has seen enormous turnover. The last named general counsel was
A Matthew Yun Huh was listed as Tesla’s designated disclosure counsel in May 2020 correspondence when the SEC inquired about a Musk tweet that said “Tesla stock price is too high imo.” The SEC asked the automaker whether the May 1 tweet had been reviewed or pre-approved; Tesla responded that it had not, and that the company considered it to be an amorphous personal opinion. Matthew Yun Huh no longer works at Tesla, according to a person familiar with the matter.
Tesla didn’t respond to a request for comment Monday. The SEC also didn’t respond to a request for comment.
(Updates penultimate paragraph to note that Matthew Yun Huh left the company)
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Kevin Miller, Tony Robinson
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