Elon Musk’s lawyers argue he should not be held in contempt for tweet about Tesla’s production rate
https://techcrunch.com/2019/03/11/elon-musks-lawyers-argue-he-should-not-be-held-in-contempt-for-tweet-about-teslas-production-rate/
Elon Musk’s legal team responded late Monday, just before a deadline, to the Securities and Exchange Commission’s request to hold him in contempt of court over a tweet he made about Tesla’s production rate. In the filing submitted to a federal court in Manhattan, Musk’s lawyers say the tweet, posted last month, did not violate the terms of an agreement Musk made with the SEC.
“The Securities and Exchange Commission’s request that Musk be held in civil contempt for a single, immaterial tweet that dutifully complied with the Order and with Tesla’s ‘Senior Executives Communications Policy’ is incorrect on the facts and on the law,” the filing read. The policy refers to a court order that requires Musk to comply with Tesla’s pre-approval policy for communications that might contain material information.