Tesla hires SEC lawyer, former fed prosecutor as managing counsel

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  • According to Misler’s LinkedIn feed, Tesla has hired David Misler, a former SEC and DOJ attorney.
  • Tesla has repeatedly clashed with the SEC over CEO Elon Musk’s tweets, among other things.
  • According to Tesla’s most recent quarterly filing, the company regularly responds to requests for “information from regulators and government officials,” including the SEC and the DOJ.

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According to him, Tesla has hired David Misler as a new managing consultant linkedin Profile. Misler is a former trial attorney for the Securities and Exchange Commission and previously worked for the US Department of Justice.

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Tesla has repeatedly clashed with the SEC, most notably over statements made by CEO Elon Musk on his Twitter account where he has millions of followers.

In 2018, the SEC accused Musk and Tesla of securities fraud after the CEO tweeted that he was considering taking the company private at $420 per share and had secured funds in 2018. Musk later scrapped that plan, and Tesla and Musk settled with regulators. , paying a $20 million fine each, and signing a settlement that required the CEO to temporarily relinquish his role as chairman of the board and have his tweets reviewed by a lawyer before posting.

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The original agreement was amended in 2019 after Musk continued to tweet involuntarily. The Feds filed a motion to hold him in contempt, and a judge asked both sides to put on their “rationality pants” and clarify that a lawyer reviewed the exact types of Musk’s tweets. what is needed.

In June of this year, the Wall Street Journal reported that the SEC had subsequently accused Musk of violating the amended agreement with tweets that said Tesla’s stock price was too high, and that it included solar rooftop production. The number was discussed.

Legal transparency site Plainsight also published records in June showing that The SEC has approved Elon Musk. was summoned, his former chief of staff Sam Taylor, his personal wealth manager Jared Birchall, his personal office of Accession LLC, and the Elon Musk Revocable Trust in an unspecified and perhaps unrelated investigation.

According to Tesla’s latest quarterly filing, the company regularly responds to requests for “information from regulators and government officials,” including the SEC and DOJ.

Tesla cautioned investors in that filing, “should the government decide to pursue an enforcement action, the potential for a material adverse impact on our business, results of operations, prospects, cash flow and financial position exists.”

In a LinkedIn post announcing a return to the private sector in late October, Misler wrote,

“Nearly nine years ago, I joined the U.S. Attorney’s office in Washington, D.C., where I swore that I would faithfully represent the United States. My federal service last Friday after two years in a Securities and Exchange Commission trial. unit. He thanked his colleagues and continued, “Today, a new journey begins. I begin as a Managing Counsel for Litigation at Tesla where I work on our mission to accelerate the world’s transition to sustainable energy.” I will support this important mission.”

Misler and Tesla did not immediately respond to requests for comment.

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