Tesla's Elon Musk to square off with SEC in court at contempt hearing

NEW YORK - Lawyers for Tesla Inc Chief Executive Elon Musk will argue on Thursday that he did not violate a fraud settlement with the U.S. Securities and Exchange Commission and should not be held in contempt, the latest twist in a high-profile battle between the billionaire and the government.

Four hours later, Musk corrected himself, saying annualized production would probably be around 500,000 by year end, with full-year deliveries totaling 400,000.The SEC said the earlier tweet contrasted with Tesla’s Jan. 30 forecast that it would deliver about 400,000 vehicles this year. “It seems pretty clear that this particular tweet was not run through the scrubbing system that Tesla was supposed to have in place,” said Stephen Diamond, who teaches securities law at Santa Clara University School of Law.A contempt finding by U.S. District Judge Alison Nathan could subject Musk to new sanctions such as a higher fine or removal from Tesla’s board or as chief executive, legal experts said.

“She could give him a good tongue-lashing, and tell him this is it, and next time she’s not going to be so nice,” Cox added.

Source: Law Daily Report (lawdailyreport.net)

TV I hope the judge grants Elon a restraining order against the SEC for attempting to violate his first amendment rights.

TV Tesla is still a pretty new endeavor. Production numbers will vary... It’s a shame the SEC is too busy taking money from the oil lobbies and paying off judges just so they can watch Tesla fall. I guess that’s the “American Dream.”

TV Most other CEO's who have pulled the crap he has would likely be in jail by now! JustSaying

United States Latest News, United States Headlines

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

Tesla, SpaceX CEO Elon Musk releases rap song: 'RIP Harambe'Elon Musk has built rockets, made electric cars, drilled tunnels and now, apparently, released a rap song. Its elonmusk world, and us broke-ass dreamers are just... dreaming Grimes is ruining this man
Source: USATODAY - 🏆 100. / 63 Read more »

Elon Musk's battle with the SEC heads to courtOn Thursday at 2 pm ET, a federal judge in New York will hear oral arguments in a lawsuit brought by the US Securities and Exchange Commission that seeks to hold Tesla CEO Elon Musk in contempt for violating a settlement deal. سيسجل التاريخ معركةالموصل وستدرس قصصها وبطولاتهاللأجيال القادمه وهذا في سَنَن من قبلنا. ثبات ضد العالم من اجل تحكيم شرع الله Why are wealthy people forever in trouble with the judicial system...is it money envy? Why don't you hold open Hearings on Trump!His Tax Records!
Source: CNN - 🏆 4. / 95 Read more »

Elon Musk sends his second email this month to employees explaining Tesla's store closure planTesla CEO Elon Musk sent another email to employees Wednesday to clear up confusion around the company's store closure plans. Stop recycling this stuff. It’s misleading. Smart & practical decisions. Musk has lost it!
Source: CNBC - 🏆 12. / 72 Read more »

Elon Musk releases rap about Harambe, with killed zoo gorilla 'sipping on some Bombay'“RIP Harambe, smoking on some strong, hey, in the gorilla zoo and we thinking about you,” Musk raps in the heavily auto-tuned song. This is not an April Fool’s Day joke! We lost brother that day. Harambe was brother of us all.
Source: Newsweek - 🏆 468. / 52 Read more »

Elon Musk uploaded a surprise rap song to SoundCloud this weekend, and it's already been streamed 1.2 million timesIt's called 'RIP Harambe,' and it's a tribute to the gorilla who was killed in 2016 after after dragging a three-year-old boy at the Cincinnati Zoo. RollingStone Is there anything he can’t do? RollingStone There's nothing Elon Musk cannot do.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Top Silicon Valley investor: This is what gives Elon Musk 'true superpowers' in businessTop Silicon Valley investor: This is what gives Elon Musk 'true superpowers' in business via CNBCMakeIt MakeIt Memes, the answer is memes. MakeIt
Source: CNBC - 🏆 12. / 72 Read more »

Elon Musk’s brother Kimbal: This was the 'best decision of my life'This was the 'best decision' of Elon Musk’s brother Kimbal's life. via CNBCMakeIt
Source: CNBC - 🏆 12. / 72 Read more »