Elon Musk, SEC told to meet for at least 1 hour about tweets - InfoNews

Current Conditions

Mostly Cloudy
12.7°C

Elon Musk, SEC told to meet for at least 1 hour about tweets

Tesla CEO Elon Musk arrives in a Tesla at Manhattan Federal Court, in New York, Thursday, April 4, 2019. Musk and his lawyers were appearing before a federal judge in New York who will decide whether the Tesla CEO should be held in contempt of court for violating an agreement with the U.S. Securities and Exchange Commission.(AP Photo/Richard Drew)
April 05, 2019 - 10:06 AM

DETROIT - A federal judge in New York is ordering Tesla CEO Elon Musk and U.S. securities regulators to meet for at least an hour to try and settle a dispute over Musk's tweets.

Judge Alison Nathan also told both sides Friday to send her a letter by April 18 saying whether they have reached a deal. If they don't, Nathan will decide on the Securities and Exchange Commission's motion to find Musk in contempt.

The SEC wants Nathan to fine Musk for allegedly violating a court-approved settlement requiring his tweets to be approved by a lawyer if they disclose important company facts. Musk's lawyers say he didn't violate the settlement.

The judge also wrote that if Musk is found in contempt, both sides will write legal briefs about his punishment.

News from © The Associated Press, 2019
The Associated Press

  • Popular penticton News
  • Comments
View Site in: Desktop | Mobile