SEC Targets More Musk Tweets In Ongoing Contempt Push

Law360 (March 19, 2019, 6:23 PM EDT) -- Tesla CEO Elon Musk can't unilaterally decide his February tweet about production estimates wasn't material to investors, the U.S. Securities and Exchange Commission said late Monday. The agency also claimed Musk sent a number of other tweets that violated a prior deal.

The SEC in February asked a New York federal court to hold Musk in contempt because his tweet about production estimates allegedly violated an earlier settlement requiring preapproval for Tesla-related tweets that "contain or reasonably could contain" information that is material to investors. The tweet about production estimates is not the only one to violate the settlement involving a different...

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