Elon Musk’s lawyers say tweet did not violate court order

Financial regulators said a tweet from the Tesla chief executive violated a September fraud settlement The conceded last month that Musks tweet was not pre-approved. But the tweet Musk fired off after the markets closed merely restated prior disclosures on electric car production volumes, the lawyers wrote on Monday, did not disclose material information and did not alter the mix of data available to investors. The settlement between Musk, Tesla and the SEC resolved an SEC lawsuit over claims Musk had made on Twitter last year that he had funding secured to take Tesla private at $420 per share. As part of that settlement, Musk stepped down as the companys chairman and he and Tesla agreed to pay $20m each …

Elon Musks Latest Tweets Land Him in Yet More Trouble

Never tweet. That’s the thrust of an SEC action taken late Monday, when the US securities watchdog requested that a federal judge hold Tesla CEO Elon Musk in contempt of court for a short series of tweets he posted last week. The SEC’s request stems from a February 19 posting from the Twitter-loving CEO, who wrote, “Tesla made 0 cars in 2011, but will make around 500k in 2019.” About four and a half hours later, Musk corrected himself, tweeting: “Meant to say annualized production rate at the end of 2019 probably around 500k, i.e. 10k cars/week. Deliveries for the year still estimated to be around 400k.” https://twitter.com/elonmusk/status/1098080063801585664 A regular schmo making a blooper on Twitter might be no big …