YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
The Securities and Exchange Commission asked a judge to hold Elon Musk in contempt.
The SEC claims the Tesla CEO violated an agreement reached last fall when Musk relinquished his chairman title and was hit with a $20 million fine over tweets the company would go private. The SEC agreement also included a clause that any future tweets would need pre-approval.
SEC officials said that "since Tesla's policy was implemented in December 2018, Musk's tweets have been reviewed after their publication, but there is no suggestion that Musk has sought or obtained pre-approval of any tweet prior to publishing it."
The latest tweets involved Musk tweeting — then revising — full-year Tesla manufacturing projections.
Read more from CNBC.
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