Financial regulators said a tweet from the Tesla chief executive violated a September fraud settlement
Tesla Inc chief executive Elon Musk shot back against the US financial regulator on Monday, arguing in a filing that a recent tweet about the electric vehicle maker’s production volume did not violate the court’s judgment and there is no basis to issue contempt against him.
Musk tweeted on 19 February to his more than 24 million followers that the electric vehicle-maker would produce around 500,000 cars in 2019. That tweet, the SEC argued, violated a September fraud settlement barring Musk from sharing material information about Tesla on social media without the company’s pre-approval. The SEC asked a federal court in Manhattan to hold Musk in contempt shortly after.