NEW YORK - A federal judge in Manhattan began considering on Thursday whether Tesla Inc Chief Executive Elon Musk should be held in contempt for violating a fraud agreement, the latest twist in a high-profile battle between the billionaire and the government.
The SEC on Feb. 25 accused Musk of violating his October 2018 settlement by posting material information about Tesla on Twitter six days earlier, without first seeking approval from company lawyers.SEC SAYS MUSK HAD NO EXCUSE They have also said the SEC had conceded during settlement talks that Musk did not need pre-approval for all tweets about his Palo Alto, California-based company.
On Wednesday night, Tesla repeated its Jan. 30 vehicle delivery forecast, but said first-quarter deliveries had fallen 31 percent from the prior three months to about 63,000. “It seems pretty clear that this particular tweet was not run through the scrubbing system that Tesla was supposed to have in place,” said Stephen Diamond, who teaches securities law at Santa Clara University School of Law.A contempt finding by the judge could subject Musk to new sanctions such as a higher fine or removal from Tesla’s board or as chief executive, legal experts said.
The settlement resolved an SEC lawsuit that accused Musk of violating securities laws by tweeting last Aug. 7 that he had “funding secured” to take Tesla private at $420 per share.
elonmusk this is never going to happen again. Where the heck is the security guards and why did the attorneys let people get so close to you? POTUS Why was he not protected?
Rock star!
$420 a share , it is still funny
xeni Wasted marketing opportunity. Could've come out of the street riding a boring machine, Underminer style.
ProTip for Elon: Never tween on acid.
YES.
Limitless
Some people are paid pigeon rats with cameras and microphones. Just an opinion...
Will he make it to Elizabeth Holmes' wedding?!!
Replaying Tucker at a court house near you!
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Reuters Top News @ReutersElon Musk departs court where judge weighed SEC contempt case Nice car. He is scum. A trump tax dodger supporter..A fascist.. I'm glad i'm not a billionaire. It must be a real pest having your day clogged with security gaurds and television cameras. Going out for a jug of milk would be a nightmare.
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