Newsdeck: Elon Musk Faces U.S. Contempt Claim for Violating SEC Accord By Bloomberg
Caption Elon Musk The 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. Save The SEC claimed on Monday that a Feb. 19 tweet by Musk violated the settlement when he wrote that “Tesla made 0 cars in 2011, but will make around 500k in 2019.
” Calls to Tesla and emails to Musk and his representative weren’t immediately returned. Brad Bennett, a former head of enforcement at the Financial Industry Regulatory Authority, who previously worked as an SEC enforcement attorney, said the agency was clearly bothered by Musk’s latest tweet. “They have to view the conduct as akin to another violation of securities laws to take this step,” he said in an interview.
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