A DATE IS SET: A Judge will hear arguments on whether or not Elon Musk is in contempt of court next month lopezlinette
Tesla CEO Elon Musk pauses while speaking before unveiling the Model Y at the company's design studio Thursday, March 14, 2019, in Hawthorne, Calif.A judge will hear oral arguments on whether Tesla CEO Elon Musk is in contempt of an Securities and Exchange Commission ruling on April 4.
Musk got in trouble for making false statements on Twitter last year, when he said he had"funding secured" to take Tesla private for $420 per share. He, in reality, did not have funding secured. This latest salvo between the Tesla CEO and the SEC started in February, when Musk tweeted that Tesla would make 500,000 cars in 2019. The company has said in public filings that it would make around 400,000.
A few days later, the SEC demanded that Musk prove that he was not in contempt of court. To bolster the charge that he was, the SEC not only went back to the tweet, but also to an interview Musk did with"60 Minutes" during which he said there was no Twitter czar at Tesla and some"mistakes" may be made.
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