The SEC said musk against settlement attorney retorted: production tweets is not 'significant disclosure'

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recently, tesla CEO elon & middot; Musk and create new legal dispute between the us securities and exchange commission (SEC), the SEC accused of musk later released on twitter to important company information, in violation of the settlement agreement signed with the SEC before, belong to the contempt of court act, must bear legal responsibility.

then, musk lawyers through court documents responded that lead to dissatisfaction with the securities and exchange commission of musk related posts, content, appropriate is not important material information about tesla operated.

'securities daily' reporters learned that submitted to Manhattan federal court in New York last week to a file, musk's lawyer also said that their customers ( Musk) “ Respect & throughout; He told all the electric company, its shareholders, and the court's obligation.

this year on February 19, musk on twitter website Posting, to more than 2400 on his account of the fans said, tesla will produce five hundred thousand electric vehicles this year. Then the SEC believes that the speech belongs to involve the disclosure of important information tesla investors and shareholders' interests, musk must be approved by the tesla internal before release.

for the SEC to musk new allegations of contempt of court, lawyers say, musk may face more severe punishment. In addition to the director, musk and even was forced to resign as chief executive.

in fact, as early as in August last year, musk on twitter made & other; Privatisation acquisition & throughout; The wave. Posting, musk suddenly announced that will privatization of tesla carried out, the price per share to $420, in addition, he has received the funds needed for the acquisition. This speech a shocked the public opinion, is widely seen as musk violated the securities law and the listed company information disclosure rules. In the end, the hasty bid also failed to become the privatisation of a reality.

the securities and exchange commission launched a securities fraud charges for musk above post, criticize him in violation of the relevant information disclosure of securities laws in the United States. Eventually, musk and SEC signed the settlement agreement, he not only with the company, respectively, in a $20 million fine, I also resigned as chairman of the board.

for musk new twitter speech in February, the SEC said the musk without prior approval from the consent of the company law, announced on twitter tesla production prospects, thus & other; Openly & throughout; Violation of this settlement agreement. In a paper published last week, the securities and exchange commission also revealed that, musk never on any twitter release information related to tesla to seek prior approval.

the musk's lawyer, said the securities and exchange commission in settlement negotiations admits that tesla related post is not bound by widespread approval requirements in advance. Lawyers also said that the post is not important, because it is simply reiterated the old message, use the general, is & other; Desire and optimistic & throughout; Has no effect, and tesla's share price.

as of March 22, tesla's shares fell 9. $49 or 3. 5%, close to 264. $53. 。 In private, after acquisition of fracas at horizontal distance last August 7, set down by 32% from its peak.