Wed. Jun 26th, 2019

Elon Musk says the SEC’s attempt to hold him in contempt is ‘virtually wrong at every level’

Elon Musk says the SEC’s attempt to hold him in contempt is ‘virtually wrong at every level’

Elon Musk says the Securities and Exchange Commission is “virtually wrong at every level” for trying to hold him in contempt of court after he allegedly violated the settlement agreement the two sides reached last year. That claim was part of new arguments made Friday by Musk and his lawyers as part of a recent back-and-forth between the Tesla CEO and the federal agency.

The SEC asked a federal judge on February 25th to hold Musk in contempt because, the agency claimed, one of the Tesla CEO’s tweets on February 19th may have violated language in the settlement. In the tweet in question, Musk said Tesla would make “around 500k” cars in 2018, which the SEC believed flew in the face of the official guidance from the company offered on…

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Source: https://www.theverge.com/2019/3/22/18277919/elon-musk-sec-court-contempt-twitter

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