SEC shreds Elon Musks contempt defense says hes ignoring court order

musk elon


As part of that deal Musk agreed that Tesla would have oversight and pre approval over his tweets that are material to the company. Musks contention that the potential size of a car companys production for the year could not reasonably be material borders on the ridiculous the SEC said. The SEC also shot down Musks claim that the number of cars had been previously mentioned in Teslas fourth quarter earnings report. the us securities and exchange commission is asking a federal judge to hold elon musk in contempt of court following stunning behavior by the tesla ceo. But the SEC has since found fault with Musks tweeting. The regulator said Monday that it was stunning that Musk had not sought pre approval for a single one of the numerous tweets about Tesla he has published since the settlement was agreed. Tesla chief executive Elon Musks defence against a contempt of court claim borders on the ridiculous according to US regulators. To settle a securities fraud case brought by the SEC Tesla and Mr Musk each had to pay $20m in fines

More Musk Elon: