AdSense Elon Musk is Yet Again in Hot Water With the SEC

Elon Musk is Yet Again in Hot Water With the SEC


AP

A federal judge said that Elon Musk is in contempt of the court due to the fact that he posted a tweet. The SEC (Securities and Exchange Commission) claims that the reason is because he disclosed private financial information to the public about Tesla, which violates a previous decision by the court. Part of this agreement with the court was that he can remain the CEO of Tesla but can no longer be the chairman, and he is supposed to ask for permission from the court before he tweets anything about his company.


The specific tweet that Musk is getting in trouble states that Tesla is going to construct about 500,000 vehicles throughout 2019. Before this tweet, Tesla officials had informed their investors that they would only produce 400,000 vehicles this year. The SEC asked lawyers that worked for Tesla and Musk if he got permission for this tweet and found that he did not. Shortly after this incident took place, Musk’s general counsel that he hired for Tesla resigned from his job.

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