Tesla's Musk must address SEC contempt bid as he calls agency 'broken'

NEW YORK: A federal judge on Tuesday ordered Tesla Inc Chief Executive Elon Musk to explain by March 11 why he should not be held in contempt for violating his fraud settlement with the U.S. Securities and Exchange Commission.

"Another boxing match with the SEC is the last thing investors wanted to see," wrote Daniel Ives, an analyst at Wedbush Securities who has an"outperform" rating on Tesla. The settlement resolved an SEC lawsuit over another Twitter post in which Musk said he had"funding secured" to take his Palo Alto, California-based company private at US$420 per share.

Bradley Bondi, a lawyer for Tesla, had told the SEC in a Feb. 22 letter that Musk thought the substance of his first tweet had been"appropriately vetted, pre-approved, and publicly disseminated."The regulator could seek a higher fine, further restrictions on Musk's activities, or removal of him from Tesla's board.

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tesla's Musk must address SEC contempt bid as he calls agency 'broken'NEW YORK: A federal judge on Tuesday ordered Tesla Inc Chief Executive Elon Musk to explain by March 11 why he should not be held in contempt for ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Tesla's Musk calls SEC 'broken' in new Twitter spatSilicon Valley billionaire Elon Musk laid into the U.S. Securities and Exchange Commission again on Tuesday, after it accused the Tesla Inc Chief ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Tesla's Musk calls SEC 'broken' in new Twitter spatREUTERS: Silicon Valley billionaire Elon Musk laid into the U.S. Securities and Exchange Commission again on Tuesday, after it accused the Tesla ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Tesla's Musk risks contempt charge as SEC argues tweets violate dealThe U.S. Securities and Exchange Commission on Monday asked a judge to hold Tesla Inc's Chief Executive Officer Elon Musk in contempt of violating ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

SEC seeks contempt charge against Tesla's Musk, says tweet violates dealSAN FRANCISCO: The U.S. Securities and Exchange Commission (SEC) is pursuing a contempt order against Tesla Inc CEO Elon Musk, saying he violated ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

SEC asks judge to hold Tesla's Musk in contempt of violating dealThe U.S. Securities and Exchange Commission on Monday asked a judge to hold Tesla Inc's Chief Executive Officer Elon Musk in contempt of violating ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Elon Musk tweet may cost him job as Tesla CEONEW YORK: The standoff between US stock regulators and mercurial Tesla chief Elon Musk has taken a dramatic turn over a tweet that could cost the ... I guess Elon Must resign? If he is guilty Donald Trump ought to be hanged . No.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US financial regulatory agency says Tesla's Musk violated dealWASHINGTON: The US Securities and Exchange Commission (SEC) accused Tesla founder Elon Musk on Monday of failing to comply with a court-endorsed deal between the electric automaker and the regulatory agency. According to the SEC, a tweet from Mr Musk on Tesla's 2019...
Source: thenewpaper - 🏆 7. / 63 Read more »

Tesla starts Model 3 delivery in China earlier than expectedTesla Inc on Friday said it had started delivering Model 3 cars in China, slightly ahead of schedule.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Volvo's Polestar joins electric car race with rival to Tesla 3Volvo Cars' luxury performance brand Polestar unveiled online its first fully electric sedan on Wednesday, with a price and driving range to rival ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »