Tesla gets second subpoena over Musk's 2018 go-private tweets - filing

[July 25, 2022]  (Reuters) -Tesla Inc has received a second subpoena from the U.S. Securities and Exchange Commission over its Chief Executive Elon Musk's tweets in 2018 about taking the company private, the electric automaker disclosed in a regulatory filing on Monday.

Elon Musk's Twitter profile is seen on a smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

The company said it received the subpoena on June 13 and will cooperate with the government authorities. The regulator did not immediately respond to a Reuters request for comment.

In November last year, the regulator had subpoenaed Tesla related to a settlement that required Musk's tweets on material information to be vetted.

Musk had in 2018 settled a lawsuit by the regulator over his go-private tweets by agreeing to let the company's lawyers pre-approve tweets with material information about the company.

In June, Musk appealed a judge's refusal to end this 2018 agreement with the SEC.

Separately, Tesla said it has converted about 75% of its bitcoin holdings into fiat currency and has recorded an impairment charge of $170 million related to the asset.

As of June 30, the fair market value of its digital assets was worth $222 million, it said in the filing. (https://bit.ly/3S1k4Bq)

(Reporting by Akash Sriram in Bengaluru; Editing by Arun Koyyur)

 

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