U.S. SEC seeks permission to reply to Musk in Tesla case

Technology

FILE PHOTO: SpaceX founder Elon Musk looks on at a post-launch news conference after the SpaceX Falcon 9 rocket, carrying the Crew Dragon spacecraft, lifted off on an uncrewed test flight to the International Space Station from the Kennedy Space Center in Cape Canaveral, Florida, U.S., March 2, 2019. REUTERS/Mike Blake

(Reuters) – The U.S. Securities and Exchange Commission on Tuesday asked a judge for permission to respond to arguments by Tesla Inc Chief Executive Elon Musk that his recent tweet about the electric vehicle maker’s production volume did not violate his fraud settlement with the regulator and that he cannot be held in contempt.

If the judge grants permission, the SEC said it would respond by March 19.

The renewed public battle between Tesla’s chief executive and the top U.S. securities regulator adds pressure on Musk, the public face of Tesla, who is struggling to make the company profitable after cutting the price of its Model 3 sedan to $35,000.

Reporting by Jan Wolfe in Washington; Editing by Susan Thomas and Leslie Adler

Products You May Like

Articles You May Like

NZ mosque shootings toll rises to 50, authorities to begin releasing bodies
Tiger feels ‘close’ after carding 69 in TPC final round
Congo suspends seating of new senators following disputed election
Trump-Russia report handed in, U.S. lawmakers seek rapid release
In early campaigning, 2020 Democrats try out tactics for taking on Trump

Leave a Reply

Your email address will not be published. Required fields are marked *