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A federal judge on Thursday gave Tesla chief executive Elon Musk and US securities regulators two weeks to resolve their differences over Mr Musk's prolific social media use.[NEW YORK] A federal judge on Thursday gave Tesla chief executive Elon Musk and US securities regulators two weeks to resolve their differences over Mr Musk's prolific social media use.
Judge Nathan said the parties should prepare a joint letter, suggesting she could rule on the case after that time if the talks fail.The judge appeared sympathetic at times with some of the government's arguments, but she also expressed significant reservations about finding Mr Musk in contempt, which she said was"serious business" and a ruling that placed a"significant burden" of proof on the government.
The SEC cracked down after Mr Musk tweeted on February 19 that Tesla would make 500,000 cars in 2019 - up from the 400,000 that the company had estimated until then, an apparent increase on a benchmark tied to profitability. Ms Crumpton said possible remedies could include monthly reports from Tesla and Mr Musk documenting steps to implement the requirement. She said fines could be escalated if there are more problem tweets.
He also argued that the SEC had been hasty in seeking a contempt ruling without first trying to confer with Mr Musk.When the SEC initiated the latest action against Mr Musk, it generated talk that he could be removed as CEO. While some analysts think a contempt ruling could a prelude to that outcome down the road, the SEC has not discussed ousting Mr Musk for flouting the agreement and Ms Crumpton made no mention of such a punishment on Thursday.
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