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Tesla hires former SEC trial lawyer David Misler as managing counsel

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This logo is the emblem of the Amsterdam showroom and service centre for US energy and automotive company Tesla. It was created on October 23rd, 2019.

John Thys | AFP | Getty Images

Tesla has hired David Misler as a new managing counsel, according to his LinkedIn profile. Misler was formerly a trial lawyer for the Securities and Exchange Commission and worked previously for the U.S. Department of Justice.

Tesla has been involved in numerous disputes with the SEC. This includes statements by Elon Musk, CEO of Tesla, on his Twitter account which has seen him amass tens to millions of followers.

The SEC indicted Musk and Tesla for securities fraud. Musk had tweeted that he wanted to take Tesla private at $420 per shares and secured funding in 2018. Musk overturned the stated plan and settled with regulators. He paid a $20m fine and signed an agreement that the CEO had to temporarily relinquish the chairmanship of the board. His tweets were also reviewed by an attorney.

Musk’s continued spontaneous tweeting led to the amendment of the agreement. He was held in contempt by the federal government. The judge requested that both of them “put on” their respective “reasonableness pants,An attorney was required to review Musk’s tweets.

This year the Wall Street JournalThe SEC reported that Musk had been accused of violating the amended agreement by tweeting that Tesla stock was too expensive and that it discussed the number of solar rooftops produced.

Plainsite is a site that provides legal transparency. It published records in June, which revealed that there was no evidence of the SEC had subpoenaed Elon MuskHis former chief of staff Sam Teller and his personal wealth manager Jared Birchall were his ex-chiefs of staff. He also had his personal office Excession LLC and Elon Musk Revocable Trust as part in an unknown and possibly unrelated investigation.

Tesla’s latest report quarterly filingAccording to the SEC and DOJ, requests for information from regulatory authorities and government officials are often answered by the company.

Tesla warned investors that if the government pursues enforcement actions, it could have a material adverse effect on our business results, prospects, cash flow, and financial position.

LinkedIn posted his announcement of returning to the private sector, in which he announced that he was doing so on October 31st. Misler wrote:

“Almost nine years ago, I joined the U.S. Attorney’s Office in Washington, D.C. where I took an oath that I would faithfully represent the United States as its counsel. My federal service ended this past Friday after two years in the Securities and Exchange Commission’s trial unit.” After expressing his gratitude to his coworkers, he said, “Today, we begin a new adventure.” I start at Tesla as a managing counsel for litigation where I will support our important mission of accelerating the world’s transition to sustainable energy.”

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

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