The SEC says Elon Musk is in ‘blatant violation’ of securities fraud settlement

The Securities and Exchange Commission (SEC) says Elon Musk hasn’t made a “good faith” effort to comply with the settlement the two sides reached last year over fraud charges related to his attempt to take Tesla private, according to a new court filing. The SEC reiterated its request Monday to have Musk held in contempt of court over a February 19th tweet that the commission says is a “blatant violation” of the settlement.

Last week, Musk called the SEC’s contempt request an “unconstitutional power grab” and said that the tweet in question didn’t contain information that affected Tesla’s stock price. The two sides and the court have until March 26th to decide whether to hold a hearing to air out their differences. The SEC said Monday…

Continue reading…

from The Verge – All Posts https://ift.tt/2HuUow1
https://ift.tt/1jLudMg

Add a Comment

Your email address will not be published. Required fields are marked *

Skip to toolbar