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SEC says Musk disregarded terms of Tesla settlement

Joe Mont | February 26, 2019

Elon Musk has once again gone and poked the hovering bear that is the Securities and Exchange Commission.

The Commission is asking a federal judge to decide whether Musk, founder and CEO of the electric car company Tesla, violated the terms of a recent consent agreement and should be held in contempt of court.

The SEC’s Feb. 25 filing, in U.S. District Court for the Southern District of New York, states that Musk should be “held in contempt for violating the clear and unambiguous terms of the Court’s Oct. 16 final judgment.”

At the heart of the initial controversy was an Aug. 7 Twitter post by Musk: “Am considering taking Tesla private at $420. Funding secured.”

“In truth and in fact, Musk had not even discussed, much less confirmed, key deal terms, including price, with any potential funding source,” the SEC later wrote of the tweet, alleging that the...

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