In a faceoff with Elon Musk, the SEC blinked


FILE PHOTO: Tesla CEO Elon Musk leaves Manhattan federal court after a hearing on his fraud settlement with the Securities and Exchange Commission (SEC) in New York City, U.S., April 4, 2019. REUTERS/Shannon Stapleton

WASHINGTON (Reuters) -U.S. securities regulators have pulled their punches in dealings with Elon Musk largely because an April 2019 court hearing on a statement he made about Tesla on Twitter didn't go their way, according to four sources with knowledge of the matter.

The U.S. Securities and Exchange Commission (SEC) asked the court to hold the billionaire in contempt, saying a tweet by the Tesla Inc. CEO - which forecast production at the carmaker - violated a court agreement Musk signed the previous year to have some of his communications vetted by a lawyer.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 48
Cxense type: NA
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

   

Next In Tech News

Volkswagen�CEO eyes ‘big moves’ in China to gain thousands of coders
Taiwan economy minister: Order books for chip firms still very full
Suspect in US July 4 shooting an alienated youth with dark online persona
Dutch university recovers US$550,000 (RM2.43mil) in ransom from 2019 hack
Airbnb London prices soar as UK eyes curbs in tourist haunts
CFM: Consumers deserve more than an apology and token effort at compensation for service disruption
US online grocery delivery boom helps open up access to fresh food
Chinese data centre operator GDS sees Singapore as hub for its South-East Asia expansion plans
Crypto lender Voyager Digital files for bankruptcy
M’sian YouTuber’s headscarf-pulling prank in viral video slammed by netizens

Others Also Read