SEC pushes court to hold Elon Musk in contempt over Tesla tweets

SEC pushes court to hold Elon Musk in contempt over Tesla tweets

5 years ago
Anonymous $Dftgs0JzgE

https://techcrunch.com/2019/03/18/sec-pushes-court-to-hold-elon-musk-in-contempt-over-tesla-tweets/

Tesla CEO Elon Musk is in blatant violation of a settlement agreement reached last year over securities fraud allegations, the U.S. Securities and Exchange Commission said in a biting response to the court that argued the billionaire entrepreneur be held in contempt.

The response, which was filed late Monday, is the latest salvo in the agency’s fight with Musk that was sparked by the now infamous “funding secured” tweet. The SEC filed a complaint in federal district court in September alleging that Musk lied when he tweeted on August 7 that he had “funding secured” for a private takeover of the company at $420 per share.

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