SEC seeks contempt charges against Tesla CEO Elon Musk
Share Now on:
SEC seeks contempt charges against Tesla CEO Elon Musk
Stock market regulators are asking a federal court to hold Tesla CEO Elon Musk in contempt for violating an agreement requiring him to have his tweets about key company information reviewed for potentially misleading claims.
The request made Monday in New York resurrects a dispute between the Securities and Exchange Commission and Musk that was supposed to have been resolved with a settlement reached five months ago.
The SEC had sued Musk for using his Twitter account to announce he had secured financing for a potential buyout of Tesla, something regulators alleged wasn’t true.
Musk agreed to having future tweets that could affect Tesla’s stock preapproved. But the SEC contends Musk didn’t do that in a Feb. 19 tweet projecting the number of cars Tesla will make this year.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
