X

Tesla's Elon Musk and the SEC have reached an agreement, report says

The two parties were reportedly able to hash out a last-minute agreement that will keep Musk's social media under scrutiny.

Judge Considers Whether To Hold Tesla Chief Executive Elon Musk In Contempt Over Tweet

Elon Musk and the SEC finally put aside differences and came to an agreement on what the Tesla CEO can and can't say.

Drew Angerer/Getty Images

The extended battle between  CEO Elon Musk and the Securities and Exchange Commission finally reached a head earlier this month when a Federal judge ordered that the two parties "put on their reasonableness pants" and come to an agreement on what Musk needs to have approval to post on social media.

As early as Friday morning, both parties sought an extension to the judge's initial two-week timeline, but according to a report published late on Friday by CNBC, Musk and the SEC have come to terms and have submitted documentation to the court outlining them.

The quick version of what it says is that Musk needs to have the approval of a specialist securities lawyer -- which Tesla has to pay for -- to say anything in written form or on an earnings call that relates to topics like production numbers, delivery numbers, mergers and acquisitions or new business lines (like leaf blowers, for example).

If that seems kind of like what he agreed to the first time Musk and the SEC reached a settlement post-"Funding secured" that's because it is similar. This is just in a more clear and easily enforceable language.

Now, whether it will actually work and whether the internet's newest meme lord will be able to keep himself under control remains to be seen.

Tesla didn't immediately respond to a request for comment.

Tesla pulls the wraps off its Model Y crossover SUV

See all photos
Kyle Hyatt Former news and features editor
Kyle Hyatt (he/him/his) hails originally from the Pacific Northwest, but has long called Los Angeles home. He's had a lifelong obsession with cars and motorcycles (both old and new).
Kyle Hyatt
Kyle Hyatt (he/him/his) hails originally from the Pacific Northwest, but has long called Los Angeles home. He's had a lifelong obsession with cars and motorcycles (both old and new).

Article updated on April 26, 2019 at 3:32 PM PDT

Our Experts

Written by 
Kyle Hyatt
CNET staff -- not advertisers, partners or business interests -- determine how we review the products and services we cover. If you buy through our links, we may get paid. Reviews ethics statement
Kyle Hyatt Former news and features editor
Kyle Hyatt (he/him/his) hails originally from the Pacific Northwest, but has long called Los Angeles home. He's had a lifelong obsession with cars and motorcycles (both old and new).
Why You Can Trust CNET
174175176177178179180+
Experts Interviewed
030405060708091011121314+
Companies Reviewed
108109110111112113+
Products Reviewed

We thoroughly evaluate each company and product we review and ensure our stories meet our high editorial standards.