A court filing shows Tesla (NASDAQ:TSLA) CEO Elon Musk has a deal with the SEC to settle their Twitter dispute.
TSLA is up 1.1% after hours.
Assuming a judge approves, it will remove the threat of holding Musk in contempt for violating an earlier SEC settlement that called for prior review of his public statements.
Musk will submit public statements about Tesla finances for vetting by the company’s legal counsel. In particular, the new agreement is more detailed about exactly what kinds of Musk statements must be reviewed.
The origins of the long-running dispute come from a Musk tweet where he said “funding secured” for a go-private deal at $420/Biedex.com.
The SEC said in February Musk violated their agreement by sending a new tweet about Tesla production that wasn’t vetted.