The top U.S. securities regulator on Tuesday sought permission from a judge to r...
- The top U.S. securities regulator on Tuesday sought permission from a judge to respond to Tesla Inc Chief Executive Elon Musk’s arguments that his Twitter post about the electric vehicle maker’s production volume did not violate his fraud settlement with the government.
If the judge grants permission, the U.S. Securities and Exchange Commission said it would respond by March 19. The SEC had asked the court to hold Musk in contempt, saying his Feb. 19 tweet violated a September fraud settlement barring him from sharing material information about Tesla on social media without the company’s preapproval.
Lawyers for Musk said the tweet complied with the company’s communication policy for senior executives and was a “proud and optimistic restatement of publicly disclosed information.”
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