SEC claims Elon Musk violated 2018 settlement with new Tesla tweet

A Century Before Elon Musk's Tesla Electric Cars Were Popular In Cities

That cloud has been hanging over Tesla, even though many analysts still consider Musk's vision to be an indispensable part of the electric auto maker he co-founded in 2003. Tesla shares dipped 3.6 percent in after-hours trading in NY.

"Having your CEO in contempt of an SEC action is a pretty bad thing", Elson said in a phone interview.

If the contempt filing is upheld by a judge, then Musk could face another hefty fine and potentially even jail time.

A spokesperson for the company did not immediately respond to requests for comment.

Musk also took to Twitter to defend himself later Monday, saying the "SEC forgot to read Tesla earnings transcript, which clearly states 350k to 500k".

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Newcastle's home form had been the worst in the league at one stage, although they've now won their last three at St James' Park . Newcastle United have been one of the most inconsistent teams in the league this season.

He later backed off that buyout idea, but regulators concluded he never had lined up the money to pull off the deal that probably would have required at least 25 billion dollars to pull off.

"Although the [first] tweet was not individually pre-approved, Mr. Musk believed that the substance had already been appropriately vetted, pre-approved, and publicly disseminated", Bondi said.

"The provision of the Court's Final Judgment requiring Musk to obtain pre- approval before publishing written statements containing material information about Tesla is clear and unambiguous", the agency said. In the tweet, Musk stated that Tesla would build "around" 500,000 cars before the year's end.

This means that the lawsuit implies that the SEC is looking for the judge to re-rule the settlement with more restrictions or a stronger set of rules regarding Musk's tweets. The firm agreed to pay the same amount for Musk's departure from the board and hire two new independent directors and a chairman.

Both February 19 tweets occurred while the United States stock market was closed. Back in January, Tesla said it was aiming to hit a goal of turning out about 10,000 cars a week sometime between the end of 2019 and the middle of 2020.

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But those factors evidently didn't sway the SEC, which illustrated Musk's allegedly contemptuous behavior with some of the comments he made during a television interview with "60 Minutes" that aired December 9.

It also is not clear how Musk's public criticism of the SEC might weigh on his fate. "I do not respect them".

Musk went on to say that "I do not respect the SEC ..." However, in December he revealed on the US edition of 60 Minutes that that nobody is approving his tweets.

FILE PHOTO: Tesla and SpaceX CEO Elon Musk participates in a "fireside chat" at the National League of Cities (NLC) 2018 City Summit in Los Angeles, California, U.S. November 8, 2018.

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