A twitter 'massacre' : the SEC asked the court ruled that musk in contempt of court ruling

A media quoted the personage inside course of study says, the SEC's move means that musk could face a new legal risks, including a ban on his business tesla or any other listed companies the possibility of and the SEC, tesla and musk negotiated a new round of punishment might be.

because think musk last week announced on twitter without authorization the tesla's annual capacity target, on Tuesday, the securities and exchange commission (SEC) asked the court ruled that musk in contempt of court ruling. This information led directly to the tesla shares tumbled 5% after. And musk responded quickly, has mentioned in the previous conference call this year's production target.

in the Wall Street journal related to twitter, musk reply, according to the SEC, forget to read the tesla's earnings call records, the record has been well expressed by ( Capacity goal this year is likely to be) 350000 to 500000. Musk ridicule, according to the situation & other Really embarrassing & throughout; 。

musk does not forget added that he is very respect the court. Although the American judicial system is not perfect, but overall we should be very happy for it.

before release the inaccurate tweets, musk did not seek or obtain approval in advance. The tweets were spread to more than 2400, ten thousand people.

the information in response to the SEC on February 20th, request, musk and tesla claims, since December 2018 tesla, since implementing the policy of musk twitter before release to the investors through the review, but no sign of musk before release any twitter ever seek or obtain approval in advance.

the SEC said that although the musk says & other; Respect for the judicial system & throughout; , but indifference to abide by the court of final judgment of deliberately show that this is not the case. The SEC concludes, request the court ordered, & other; That the defendant elon & middot; Musk should not be seen as contempt of court on October 16, 2018 in the cause of the final judgment & throughout; 。

tesla shares closed up 1. 38%, but after once plummeted more than 5%, and now after decline narrowed to 3. 6%, to $288.

see Wall Street had previously mentioned, on February 19, musk publish twitter, said in 2011, tesla didn't produce a car, but will produce about 500000 cars in 2019.

a few hours later, musk tweet again, to clarify, before a twitter said 2019 turn out 500000 cars mean & other; At the end of 2019, the annual production capacity of may around 500000 vehicles, namely 10000 cars a week & throughout; , and emphasized the deliveries in 2019 is still expected before 400000.

according to bloomberg, university of Delaware, John L. Weinberg, Charles Elson, director of the center for corporate governance, according to the SEC's move to musk is faced with the new legal risks, including a ban on running the possibility of tesla or any other public company. The behavior of contempt of court will lead to the SEC, tesla and musk negotiated a new round of punishment.

in addition, served as the U. S. SEC enforcement lawyers to bloomberg Brad Bennett, according to the SEC clearly by the latest tweets musk, the SEC will have to this kind of behavior as a violation of the securities law and an act, and other This is a very novel, runs with so someone is ( High) Market value of the enterprise, and worries the SEC who was unable to comply with the securities law. ”

at that time, musk agree with stepped down as chairman of the tesla, and pay fines of $20 million, to settle the SEC for its securities fraud charges, keep the chief executive's job. In addition, tesla will pay $20 million, to settle its failed to adequately monitor musk tweets.

in the final judgment on October 16, the court ordered musk keep tesla implementation procedures, including is reasonable for any contains or may contain important information for tesla or its shareholders belong to the written communication ( Including social media posts) Seek approval in advance.

it's interesting that the SEC documents before submit to the court in the United States, there are media & other; Accurate prediction & throughout; Said the musk tweets may make tesla into trouble.

23, the financial media Business Insider said, musk, according to new twitter events tesla board without results, the reform of tesla's board of directors does not seem to properly focus musk in what said to shareholders.

the media notice that before tweets in the musk, the SEC has been continuing investigation musk about the expected yield and actual yield Model 3 statement.

　　“ Coincidence & throughout; Is, on February 20th, musk tweets issued two days later, there is news that tesla's general counsel, in December last year, after induction of Dane Butswinkas leaving, cause he's found himself & other; Not suitable for tesla's corporate culture & throughout; 。