London Daily

Focus on the big picture.
Tuesday, Jun 02, 2026

Tesla receives SEC subpoena in ongoing quarrel over Musk tweets

Tesla receives SEC subpoena in ongoing quarrel over Musk tweets

The subpoena from the United States Securities and Exchange Commission is related to the 2018 settlement that required Musk’s tweets on material information about the company to be vetted.

Tesla Inc said on Monday that it received a subpoena from the United States securities regulator related to a settlement that required Chief Executive Elon Musk’s tweets on material information about the company to be vetted.

The subpoena by the US Securities and Exchange Commission (SEC) was issued on November 16, some 10 days after Musk asked his Twitter followers if he should sell 10 percent of his stake in the company, triggering a stock selloff.

As of last close, the electric car maker’s shares had fallen by nearly a quarter since the tweet. The shares were down 1.4 percent at $909.98 on Monday morning.

The SEC’s latest action, which was disclosed in a securities filing by the automaker, adds to pressure on Tesla from federal auto safety regulators regarding vehicle recalls and investigations related to its driver-assistance software. The SEC declined to comment.

In 2018, Musk settled a lawsuit by the SEC over his tweet on taking the company private, agreeing to have the company’s lawyers preapprove tweets with material information about the company.

Tesla in December was hit by a lawsuit over Musk’s social media posts including his Twitter poll on stock sales that pulled down the company’s share price. This was not the first lawsuit accusing Musk of violating the settlement terms.

Reuters news reported last year that the SEC has opened an investigation into a whistle-blower’s complaint that Tesla failed to properly notify its shareholders and the public of fire risks associated with solar panel system defects over several years.


Tesla said on Monday that it “routinely” cooperates with government subpoenas and other investigations and inquiries.

In the filing, the company also said the California Department of Fair Employment and Housing investigated allegations of race discrimination and harassment in Tesla workplaces and gave notice that it has grounds to file a civil complaint against the electric car maker.

Tesla has already been battling a series of lawsuits on racial abuse and sexual harassment, and a federal jury in October ordered the company to pay $137m to a Black former contract worker in one of the cases.

The New York State Common Retirement Fund said on Monday that it has filed shareholder proposals with Tesla, Activision Blizzard Inc and Starbucks Corp, requesting they report on their efforts to prevent harassment and discrimination against employees.

The proposals ask the companies to disclose, among other things, the total number and aggregate dollar amount of disputes settled related to sexual abuse or harassment or discrimination.

Musk-White House tensions


Tesla and the White House have been at odds over the past few months, with the administration of US President Joe Biden focusing on legacy automakers, including Ford Motor Co and General Motors in the electric vehicle race.

Last month, GM and Ford’s CEOs attended a meeting of tech and auto companies hosted by Biden. Musk was not on the list of attendees.

Musk has been using his Twitter account to attack the Biden administration for allegedly ignoring Tesla and holding up Detroit automakers as leaders in the shift to electric vehicles. Musk called Biden a “damp sock puppet” in a tweet last month.

Musk is also feuding with the United Auto Workers (UAW) union, a key ally of Biden’s. The National Labor Relations Board in March ordered Musk to delete a tweet that said Tesla workers could lose stock options if they voted to join the UAW. Tesla is appealing that order.

Tesla said on Monday that the fair market value of the electric vehicle maker’s Bitcoin holdings as of December 31 was $1.99bn.

The company, which had invested $1.5bn in Bitcoin last year before selling 10 percent of the holding, said it registered about $101m in impairment losses last year due to the value of Bitcoin.

Newsletter

Related Articles

0:00
0:00
Close
Japanese Technology Firm Fujitsu Launches Advanced Artificial Intelligence Tool for Corporate Disclosures
South Africa Officially Launches Nationwide Campaign for Highly Contested Local Government Elections
United Kingdom Commits Additional Funding for Unexploded Ordnance Clearance in Laos
Singapore Announces Stringent New Greenhouse Gas Regulations for Commercial Cooling Systems
Cambodia and Thailand Hold High-Level Border Security Talks at United Nations Headquarters
Myanmar Military Government and China Sign Major Agreement to Upgrade Media and Cultural Cooperation
Knife Attack at Swiss Train Station Leaves Three Injured in Suspected Act of Domestic Terrorism
Transnational Extortion Gang Threatens Canadian Police With Army of One Thousand Armed Operatives
Australia Imposes Forty-Two-Day Quarantine on Cruise Ship Passengers Following Deadly Hantavirus Outbreak
International Monetary Fund Unlocks Seven Hundred Million United States Dollars for Sri Lanka Following Economic Reforms
Australia Launches Record One Point Four Billion Dollar Lawsuit Against Chemical Giant 3M Over Contamination
China and Canada Foreign Ministers Meet in Ottawa in Effort to Stabilize Strained Diplomatic Ties
Indonesia Demands Urgent United Nations Security Council Reform Amid Escalating Global Conflicts
Extreme Weather Patterns Trigger Severe Drought in Madagascar and Destructive Flooding in East Africa
Indian State of Karnataka Faces Political Upheaval as Chief Minister Siddaramaiah Abruptly Resigns
Philippines and Japan Reaffirm Defense Ties as Crucial for Indo-Pacific Regional Stability
Norway Joins French Nuclear Deterrence Initiative in Major Shift for European Security Architecture
Global Critical Mineral Alliances Expand as Western Nations Move to Counter Chinese Supply Dominance
United States Imposes Fifty Percent Tariffs on Mexican Steel and Aluminum Ahead of Trade Pact Review
European Union and China Head Toward Major Trade Conflict Over Clean Technology Exports
United States Economic Growth Severely Downgraded to One Point Six Percent as Stagflation Fears Mount
World Health Organization Warns Central African Ebola Epidemic is Outpacing Containment Efforts
United States Treasury Department Conditions Sanctions Relief on Reopening of the Strait of Hormuz
Iranian Air Defenses Intercept and Destroy United States Military Drone Over Bushehr Province
Iranian Armed Forces Launch Ballistic Missiles Toward Unspecified Targets Prompting Regional Condemnation
United Nations Secretary-General Warns Global Order Facing Highest Level of Conflict Since 1945
Israel Issues Sweeping Evacuation Orders in Southern Lebanon Amid Intensified Hezbollah Conflict
Russia Announces Systemic Military Strikes Targeting Ukrainian Defense and Energy Infrastructure
United States and Iranian Negotiators Reach Draft Agreement to Extend Ceasefire and Resume Nuclear Talks
United Nations Security Council Deeply Divided Over United States Capture of Venezuelan President
US and Iran Exchange Direct Military Strikes Amid Fragile Gulf Ceasefire
World Health Organization Warns of Catastrophic Ebola Outbreak in DR Congo
Russia Threatens New Wave of Strikes on Ukrainian Infrastructure and Embassies
Scientists Warn Atlantic Ocean Currents Could Collapse Faster Than Projected
Anthropic Reaches $900 Billion Valuation in Historic AI Funding Round
Washington Imposes Crippling Sanctions on Iranian Maritime Authority
Japan and the Philippines Initiate Strategic Intelligence-Sharing Pact
Microsoft Deploys Autonomous Computer-Using AI Agents to Global Markets
Anthropic Secures $45 Billion Compute Infrastructure Agreement With SpaceX
U.S. Director of National Intelligence Resigns Amid Administration Shakeup
Micron Technology Crosses Trillion-Dollar Valuation Amid Unprecedented Hardware Demand
Canada and Germany Finalize Historic Long-Term LNG Export Agreement
China Expands International Travel Restrictions on Domestic AI Researchers
Japan Approves Sweeping Overhaul of National Intelligence Apparatus
Global Airlines Scramble Logistics as Middle East Airspace Remains Fractured
Japan's Naphtha Imports Plunge 47 Percent Amid Strait of Hormuz Closure
Global Crude Prices Retreat Below $96 as Gulf Tensions Momentarily Ease
Generative AI Outperforms Human Baselines in Landmark Global Creativity Study
NASA Partners With Private Aerospace to Unveil Permanent Lunar Base Architecture
South Korean Equity Markets Surge on Next-Generation Memory Chip Frenzy
×