Elon Musk. Photo: Spencer Platt/Getty Images

Tesla chief executive Elon Musk reached an agreement on Friday with the Securities and Exchange Commission regarding his behavior on Twitter, according to an amended filing in U.S. District Court.

Why it matters: The agreement with securities regulators removes, for now, one headache facing the electric automaker that’s in the midst of a tumultuous stretch and just reported a larger-than-expected quarterly loss on Wednesday.

The backdrop: Last August, Musk took to the social platform, tweeting he had "funding secured," to take Tesla private at $420 a share. In response, the SEC sued Musk, alleging his claims on Twitter were false.

The suit was settled last September, but the SEC sued Tesla's CEO a second time for allegedly violating the terms regarding his Twitter activities of the original agreement. Musk agreed to pay a civil penalty for at least 3 years.

One big question: Whether the notoriously shoot-from-the-hip Musk, who often uses Twitter to communicate Tesla news, will actually abide by the updated terms of his requirements for vetting his communications. He has expressed disdain for the SEC in the past.

Go deeper: Elon Musk to pay $20 million, step down as Tesla chair in SEC settlement

Go deeper

Updated 31 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: The swing states where the pandemic is raging — Pence no longer expected to attend Barrett confirmation vote after COVID exposure.
  2. Health: 13 states set single-day case records last week
  3. Business: Where stimulus is needed most.
  4. Education: The dangerous instability of school re-openings.
  5. States: Nearly two dozen Minnesota COVID cases traced to 3 Trump campaign events
  6. World: Restrictions grow across Europe.
  7. Media: Fox News president and several hosts advised to quarantine.

Republicans and Dems react to Coney Barrett's Supreme Court confirmation

President Trump stands with Judge Amy Coney Barrett after she took the constitutional oath to serve as a Supreme Court justice during a White House ceremony Monday night .Photo: Tasos Katopodis/Getty Images)

President Trump said Judge Amy Coney Barrett's Senate confirmation to the Supreme Court and her subsequent taking of the constitutional oath Monday was a "momentous day," as she she vowed to serve "without any fear or favour."

  • But as Republicans applauded the third conservative justice in four years, many Democrats including Speaker Nancy Pelosi (Calif.) warned of consequences to the rush to replace the late Justice Ruth Bader Ginsburg ahead of the Nov. 3 election, with progressives leading calls to expand the court.
Ina Fried, author of Login
1 hour ago - Science

CRISPR pioneer: "Science is on the ballot" in 2020

Photo: "Axios on HBO"

In her three decades in science, Jennifer Doudna said she has seen a gradual erosion of trust in the profession, but the recent Nobel Prize winner told "Axios on HBO" that the institution itself has been under assault from the current administration.

  • "I think science is on the ballot," Doudna said in the interview.

Why it matters: That has manifested itself in everything from how the federal government approaches climate change to the pandemic.

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