Musk is obliged to have all tweets pre-approved, which obligation he violated in a tweet last week about production figures
FILE PHOTO: Tesla CEO Elon Musk attends the Tesla Shanghai Gigafactory groundbreaking ceremony in Shanghai, China January 7, 2019. Picture: REUTERS / ALY SONG
Musk, Tesla and the SEC settled the lawsuit, and part of the settlement called for any material statements made by Musk on social media to be vetted by the company in advance. Musk corrected his tweet four hours later to say that the “annualised production rate” at year-end 2019 would probably be about 500,000, with deliveries expected to be about 400,000.
The settlement was approved by a US judge in October, who can now decide whether its terms have been violated.Musk provoked the SEC even after the settlement was signed, calling the agency the “Shortseller Enrichment Commission” on Twitter in October., Musk said none of his tweets had been censored since the settlement, and that only those that could cause Tesla stock to move would need to be reviewed. “I want to be clear.
It was not immediately clear what the repercussions would be were Musk to be found in contempt, as such a citation does not necessarily mean the original agreement is now null and void.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk’s tweets may cost Tesla $920m in cashRun-ins with regulators and executive exits have made it all but certain Tesla will have to settle a March 1 convertible bond maturity in cash
Read more »
Elon Musk tweet may cost him job as Tesla CEOThe standoff between US stock regulators and mercurial Tesla chief Elon Musk has taken a dramatic turn over a tweet that could cost the entrepreneur his job as CEO of the electric carmaker.
Read more »
Elon Musk tweet may cost him job as Tesla CEOThe Pretoria-born Tesla CEO has established one of the biggest electric car manufacturing corporation across the globe.
Read more »
Elon Musk tweet may cost him job as Tesla CEOThe Pretoria-born Tesla CEO has established one of the biggest electric car manufacturing corporation across the globe.
Read more »
Newsdeck: Elon Musk Faces U.S. Contempt Claim for Violating SEC AccordThe U.S. Securities and Exchange Commission asked a judge to hold Elon Musk in contempt for violating last year’s settlement with the agency, raising a new round of regulatory issues for the embattled Tesla Inc. CEO.
Read more »
NASA clears SpaceX test flight to space station - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.NASA gave its final go-ahead on Friday to billionaire entrepreneur Elon Musk’s SpaceX company to conduct its first unmanned test flight of a newly designed crew capsule to the International Space Station on March 2.
Read more »
Musk turns to Morgan Stanley for five monster mortgages‘Super-jumbo’ bonds are increasingly common as house prices rise; Musk’s loans show how even the wealthiest use mortgages to maintain liquidity
Read more »
Elon Musk’s tweets may cost Tesla $920m in cashRun-ins with regulators and executive exits have made it all but certain Tesla will have to settle a March 1 convertible bond maturity in cash
Read more »