Elon Musk Denies Contempt Of Court As SEC Push For Charges
Mike Sanders / 4 years ago
Elon Musk Denies Contempt Of Court
You may recall, however, that last year he got into more than a little hot water over a Twitter posting claiming that he was taking Tesla private. The short version is that this led to a pretty hefty fine by the SEC and a requirement to step down as chairman for 3 years.
In a report via the BBC, however, the SEC is reportedly looking to take official legal action against him over what they feel is a breach of the agreement. This, by proxy, would place Elon Musk in contempt of court.
Part of the agreement made required Elon Musk to be very careful about what he said about Tesla. Specifically, that he couldn’t post anything on social media that might have a bearing on the company.
Last February, however, he posted two comments on his social media account. Specifically about how production figures for 2019 were looking good. The SEC, however, considers this a big no-no.
What Do We Think?
Ultimately, it seems that the Twitter posts did not have any notable effects are were largely deemed to just be ‘positivity’ over the current success of the company. B
Tesla made 0 cars in 2011, but will make around 500k in 2019— Elon Musk (@elonmusk) February 20, 2019
Yes, he shouldn’t really be posting about the company. Well, more accurately, if he does, he will always risk legal action. On the whole, however, I can’t see the courts agreeing with the SEC over this one.
I can not, however, shake the feeling that as much as I love him, sooner or later he’s going to be the creation of his own downfall.
What do you think? – Let us know in the comments!