Tesla subpoenaed by SEC about complying with Elon Musk settlement

Tesla received another subpoena from the US Securities and Exchange Commission about a subject that keeps coming up: Elon Musk’s (pictured) tweeting in 2018 that he was considering taking the carmaker private.

The SEC issued the subpoena on November 16, seeking information about Tesla’s governance processes and compliance with the settlement reached with the agency in September 2018, the company said in a regulatory filing. Tesla agreed to put in place controls to oversee Musk’s communications — including his tweets — after the SEC alleged the chief executive officer committed securities fraud by saying he had secured funding for the company to go private.

The SEC sought to have a judge find Musk in contempt of the settlement early the following year when he tweeted about Tesla’s production outlook without getting approval beforehand.