A federal judge on Tuesday ordered Tesla Inc Chief Executive Elon Musk to explai...
NEW YORK - A federal judge on Tuesday ordered Tesla Inc Chief Executive Elon Musk to explain by March 11 why he should not be held in contempt for violating his fraud settlement with the U.S. Securities and Exchange Commission.
Lawyers for Tesla and Musk did not immediately respond to requests for comment. Tesla did not immediately respond to similar requests. The SEC declined to comment. He called the latest incident “a wild card that could potentially bring this tornado of uncertainty back into the Tesla story until resolved.”
It also said the outlook contrasted with guidance that Tesla had given on Jan. 30 that it would deliver about 400,000 vehicles in 2019. Four hours after his Feb. 19 tweet, Musk corrected himself, saying annualized production would probably be around 500,000 by year end, with full-year deliveries totaling 400,000.
That followed his Monday night tweet, after the contempt motion was filed, that the “SEC forgot to read Tesla earnings transcript, which clearly states 350k to 500k,” and added: “How embarrassing.”
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