Elon Musk Is In Trouble With The SEC Again
Copy Mark Schiefelbein / AFP / Getty Images The US Securities and Exchange Commission wants a federal judge to hold Tesla CEO Elon Musk in contempt for violating a settlement agreement with the agency, after he tweeted an inaccurate statement about his company’s car production last week. In a tweet last Tuesday, Musk wrote, “Tesla made 0 cars in 2011, but will make around 500k in 2019,” before later correcting himself in a subsequent message.
” Tesla reached an agreement with the SEC last October in which the company consented “to oversee and pre-approve Musk’s Tesla-related written communications” with material information to shareholders. Monday’s filing is the latest legal salvo in the ongoing battle between the SEC and Musk, who has not hidden his contempt for the nation’s securities regulator since drawing its ire last summer.
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