In the latest episode of Elon Musk’s battle with the U.S. Securities and Exchange Commission, the Tesla chief executive officer’s lawyers said the agency has no basis for contempt sanctions against him.
The SEC called for Musk to be held in contempt of court last month for tweeting inaccurate Tesla production estimates without seeking pre-approval from the Palo Alto, California-based company’s general counsel, an alleged violation of his settlement with the agency. Musk settled with the SEC in September over tweets incorrectly claiming he’d secured funding to take Tesla private at $420 a share.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]