The US Securities and Exchange Commission said it’s “stunning” that Elon Musk didn’t seek pre-approval of any of his tweets about Tesla in the months since he was ordered by a judge to do so.
Tesla CEO Elon Musk caught many employees by surprise with his announcement last week that the electric-car maker would close most stores and shift to online-only sales.
Elon Musk’s Twitter habit is putting him in increasing legal jeopardy, with the Tesla CEO facing millions of dollars in additional fines, tighter restrictions on his use of social media and even a possible bar on running the company, experts say.
Elon Musk is facing a new round of regulatory trouble for tweets about Tesla, raising fresh concerns about the billionaire CEO’s ability to keep his impulses in check and responsibly run a public company.
Elon Musk has backed himself into a corner with Tesla’s most crucial car. Some would-be customers have waited almost three years to take delivery of the Model 3,
Tesla is to cut its workforce by about 7% after a difficult year for the electric car maker. “The road ahead is very difficult,” the company’s founder and CEO Elon Musk said in an e-mail to employees.