Elon Musk Fires Back At SEC in New Defense

Elon Musk Fires Back At SEC in New Defense

Elon Musk Fires Back At SEC in New Defense

The top US securities regulator received permission from a federal judge on Tuesday to respond to Tesla Inc Chief Executive Elon Musk's arguments that his Twitter post about the electric vehicle maker's production volume did not violate his recent fraud settlement.

Lawyers for Elon Musk have issued a defense of the Tesla CEO's tweet on February 19th, 2019 against the SEC complaint that the tweet violated the terms of Musk's earlier settlement with the regulator.

2 rockets fired on Israel, Gaza braces for reprisal
There were no reports of damage or casualties, the Israeli army said, and no group in Gaza immediately claimed the attack. Israel's municipality announced that public bomb shelters in the Tel Aviv area would be opened.

Tesla Inc Chief Executive Elon Musk shot back against U.S. securities regulators on Monday, arguing in a filing that his recent tweet about the electric vehicle maker's production volume did not violate his fraud settlement and he can not be held in contempt. It's not entirely clear what the outcome will be if Musk is held in contempt. Last year, Tesla's total headcount increased by 30 percent, "which was more than we can support", Musk wrote in a company blog post. Expectation on the new model is high as SUVs are now the fastest-growing vehicle segment in the USA and China, Tesla's two largest markets.

In February, the SEC "asked a judge to hold Musk in contempt for violating a settlement" with his February 19 tweet, Bloomberg reported. "Detailed specs & pricing will be provided", said Musk on March 3.

Pi Day: Google calculates most accurate value of Pi
Her former professor and one time world record holder for pi, Daisuke Takahashi, helped her with advice and technical strategies. For today's Pi day Google developer, Emma Haruka Iwao, has set a Guinness World Record for the most accurate value of Pi.

The settlement between Musk, Tesla and the SEC resolved an SEC lawsuit over claims Musk made on Twitter in August that he had "funding secured" to take Tesla private at $420 per share. The SEC request that Musk be held in civil contempt "for a single, immaterial tweet that dutifully complied with the Order" is incorrect on the facts and on the law, the filing argued.Musk merely put his "shorthand gloss" on Tesla production numbers consistent with information already public and in a manner that was "celebratory and forward-looking", according to his attorneys. Most units sold globally should be built here, but reports assert that Tesla will also build its baby electric SUV at a new Gigafactory in Shanghai, China for the local market. Tesla was also fined $20 million, and had to appoint two new independent directors to its board. He added that while he respects the justice system, he does not respect the SEC. As it happens, the SEC watches 60 Minutes, and that interview was cited in the agency's filing.

By contrast, Musk's lawyers characterize the SEC's interpretation of the settlement as an "unconstitutional power grab". "Musk never consented to and would not consent to such a sweeping gag order".

Watch Phoenix Cup Race Online, On TV
That was enough to give him the win, as he was able to nurse his vehicle to the finish before he could be caught from behind. Busch will look to hit the 200 career wins mark next week at California when he runs in both the Xfinity and Cup races.

Related news