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SEC’s Twitter war with Elon Musk escalates with contempt claims

Joe Mont | March 19, 2019

The back-and-forth legal battle between the Securities and Exchange Commission, Elon Musk, and Tesla—the company he founded and runs as CEO—escalated Monday. The Commission made its final case in federal court as to why Musk should be held in contempt for, in its view, violating the terms of a consent decree agreed to earlier this year.

Last month, the Commission petitioned the U.S. District Court for the Southern District on New York to decide whether Musk violated the terms of the consent agreement. “Such brazen disregard of this Court’s order is unacceptable and unworkable going forward,” it wrote.

The SEC’s Feb. 25 filing argues that Musk should be “held in contempt for violating the clear and unambiguous terms of the Court’s Oct. 16 final judgment.” As part of a legal process that included a written rebuttal by Musk’s legal team, the SEC on Monday filed...

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