Due to a misleading tweet on August 7th, Elon Musk, CEO of Tesla, faces a $20 million dollar fine in addition to stepping down as the company’s chairman for a three-year period.

This follows a decision from the Securities and Exchange Commission (SEC) to sue Musk for misleading investors.

“When companies and corporate insiders make statements, they must act responsibly,” Jay Clayton, Chairman of the SEC said. “[They must] endeavor to ensure that statements are not false or misleading…”

As for the tweet in question, it details Musk stating that he plans to take Tesla private and that he apparently had the funding to do so, although there were no plans concerning that.

All things considered, the issue serves as a cautionary tale to the consequences of social media.