Federal Judge Sets April 4 Hearing for Elon Musk Contempt Case
Image by Steve Jurvetson
A federal judge in New York will hear oral arguments next week in a lawsuit brought by the US Securities and Exchange Commission that seeks to hold Tesla CEO Elon Musk in contempt for violating a settlement deal, according to a CNN report.
Judge Alison Nathan will consider the SEC’s request that Musk be held in contempt for violating a settlement agreement reached last year, which required he get pre-approval for social media posts about the electric car company, writes CNN’s Victoria Cavaliere.
Musk tweeted on Feb. 19 that Tesla would produce “around 500k [cars] in 2019.” Hours later, he posted a follow-up tweet indicating that the company will actually deliver just 400,000 cars this year.
Although Musk corrected his mistake, regulators said he had “once again published inaccurate and material information about Tesla to his over 24 million Twitter followers,” according to court papers.
