Elon Musk told a judge that a pair of tweets he sent last month about Tesla weren’t improper, pushing against a request by the U.S. Securities and Exchange Commission to hold him in contempt for violating earlier restrictions on his social media posts.
Tesla CEO Elon Musk told a judge he has “dramatically decreased the amount that I tweet about Tesla.”
forecasting production of Tesla’s electric vehicles were misleading and hadn’t been vetted as required by an earlier order.Musk said he has “dramatically decreased the amount that I tweet about Tesla” and has cut his average monthly Tesla-related tweets nearly in half. “The SEC has not cited — and counsel has not identified — any prior case in the last decade where the SEC has sought a contempt order to enforce the type of injunction at issue here,” they said in the filing.
The risk of Tesla losing Musk has spooked shareholders before. The company’s market value plunged $7.3 billion on Sept. 28, the day after the SEC sought to bar him from serving as an officer or director. The following day, Musk and Tesla settled with the SEC and agreed he would step down as chairman for at least three years but could continue to be chief executive.
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