Saudi Press

Saudi Arabia and the world
Saturday, Feb 21, 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

Saudi Press
0:00
0:00
Close
Concerns Mount Over Potential Saudi Uranium Enrichment in Prospective US Nuclear Accord
Trump Directs Government to Release UFO and Alien Information
Trump Signs Global 10% Tariffs on Imports
Investability Emerges as the Defining Test of Saudi Arabia’s Next Market Phase
Saudi Arabia’s Packaging Market Accelerates as Sustainability and E-Commerce Drive Transformation
Saudi Arabia’s Strategic Minerals Drive Offers Lessons for Europe’s Supply Chain Ambitions
Saudi Arabia Unveils $32 Billion Push Into Theme Parks and Global Entertainment
Saudi Crude Exports to India Climb Sharply, Closing Gap With Russia
Saudi Arabia’s Halal Cosmetics Market Expands as Faith and Ethical Beauty Drive Growth
United Kingdom Denies U.S. Access to Military Base for Potential Iran Strike
ImmunityBio Secures Saudi Partnerships to Launch Flagship Cancer Therapy
Türkiye and Saudi Arabia Launch Expanded Renewable Energy Partnership
US Supreme Court Voids Trump’s Emergency Tariff Plan, Reshaping Trade Power and Fiscal Risk
UK Intensifies Efforts to Secure Saudi Investment in Next-Generation Fighter Jet Programme
Saudi Arabia Tops Middle East Green Building Rankings with Record Growth in 2025
Qatar and Saudi Arabia Each Commit One Billion Dollars to President Trump’s ‘Board of Peace’ Initiative
Ramadan 2026 Prayer Times Set as Fasting Begins in Saudi Arabia and Egypt Announces Dates
Saudi Arabia Launches Ramadan 2026 Hotel Campaign to Boost Religious and Leisure Tourism
Saudi Arabia Seeks Reroute of Greece-Bound Fibre-Optic Cable Through Syria Instead of Israel
Saudi-Backed Scopely Acquires Majority Stake in Turkey’s Loom Games to Expand Mobile Portfolio
Zodiac Milpro Launches Zid Marine Joint Venture in Saudi Arabia to Expand Regional Shipbuilding
Saudi Arabia Reaffirms Reform Path Amid Claims of Ideological Reversal
Calls Grow for Saudi Arabia and UAE to Settle Differences Through Direct Dialogue
Jensen Huang just told the story of how Elon Musk became NVIDIA’s very first customer for their powerful AI supercomputer
British couple sentenced to 10 years in Iran for espionage
Former British Prince Andrew Arrested on Suspicion of Misconduct in Public Office
Unitree Robotics founder Wang Xingxing showcases future robot deployment during Spring Festival Gala.
Prince William Holds Talks with Crown Prince Mohammed bin Salman During Saudi Visit
Saudi Arabia’s Humain Commits $3 Billion Investment to Elon Musk’s xAI
SCOPA Executive Unveils Ambitious Relaunch Strategy for Saudi Production Company
Saudi Arabia Sees Rise in Business Visa Rejections Amid Tighter Compliance Checks
Saudi PIF Transfers Take-Two Stake to Savvy Games Group in Strategic Gaming Push
Jimmy Carr Says He ‘Loved’ Saudi Arabia Show Amid Debate Over Performing in the Kingdom
Sotheby’s ‘Origins II’ Auction Signals Saudi Collectors’ Shift Toward Cultural Legacy
EY and Microsoft Deepen Saudi Arabia Partnership with Launch of EY Studio+
Google Pay Launches Support for Mastercard Cards in Saudi Arabia
Saudi Arabia Bolsters Maritime Surveillance Fleet with Four C-27J Patrol Aircraft
Kazakhstan and Saudi Arabia Deepen Strategic Partnership with New Investment and Energy Agreements
Saudi Crown Prince Receives Written Message from Kazakhstan’s President Amid Expanding Strategic Ties
ImmunityBio Shares Rise After Saudi Arabia BCG Manufacturing Update Spurs Investor Optimism
Global Music Star Tyla Confirmed as Headliner at 2026 Saudi Arabian Grand Prix Entertainment Lineup
Somalia and Saudi Arabia Forge New Military Partnership Amid Regional Power Shifts
Saudi Arabia and Several Nations Criticize Israeli West Bank Land Measures as Diplomatic Tensions Rise
Saudi Public Investment Fund Transfers Stake in Take-Two Interactive as Portfolio Strategy Evolves
Saudi Arabia’s Flagship Defense Expo Highlights Industrial Ambitions and Expanding Arms Portfolio
Strategic Divergence Deepens as Saudi Arabia and UAE Recalibrate Gulf Partnership
Saudi Arabia Confirms Start of Ramadan as Crescent Moon Sighted, While Other Nations Begin a Day Later
Rubio Calls for Sweeping U.N. Reform, Saying It Has Failed to End Wars in Gaza and Ukraine
10,000 Condoms Distributed at Winter Olympics 2026 Athlete Village Depleted Within 72 Hours
Prince William Meets Saudi Crown Prince as Epstein-Andrew Fallout Casts Shadow
×