BREAKING! Judge Asks To Have Elon Musk Held In Contempt. Shares Fall.

Shares of Tesla fell nearly 5 percent after Bloomberg News reported that the SEC has asked a judge to hold Elon Musk in contempt for violating its deal. According to Bloomberg, the SEC cited an “inaccurate” February 19 tweet about production.

More details to follow.

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ricks0me - 2/25/2019 6:45:46 PM

+7 Boost

3... 2... 1... Que up the spin doctors

Truthy - 2/25/2019 6:53:29 PM

+8 Boost

Musk has zero credibility. The fat lady is clearing her throat.

PUGPROUD - 2/25/2019 6:55:45 PM

+9 Boost

No surprise here. What goes around comes around. Musk poked the SEC in the eye the moment the ink dried on the deal and they will get their revenge, now or some point in the future.

MDarringer - 2/25/2019 8:13:28 PM

+7 Boost

Tesla would be so much better off WITHOUT Elon Musk. 90% of the rage people feel against Tesla is really aimed at Musk. 100% of Tesla's shady business practices are HIS doing. Imagine Tesla being run by someone coherent like an Alan Mulally type.

ricks0me - 2/25/2019 8:43:07 PM

+4 Boost

Matt said: Imagine Tesla being run by someone coherent like an Alan Mulally type.

Rick said: I agree with your whole post above and you could also replace Tesla in your quote above with Ford (again)

MDarringer - 2/25/2019 8:50:11 PM

+1 Boost

Ford is OK-ish at the moment, but Mulally is sorely missed. Ironically, Mulally is Ford's Iacocca.

Truthy - 2/25/2019 9:45:11 PM

+9 Boost

I read Mulally's book. A great read. He put the emphasis on product, saying that finance would have a seat at the table, but product would drive decisions.
Conversly, GM has always bee finance driven.

SanJoseDriver - 2/26/2019 12:48:46 AM

-4 Boost

Damn it, someone needs to triple check all of his tweets.

That being said, the tweets were after trading hours and there was no stock movement. If anything, the SEC made a bigger impact on the stock with this announcement, which is a bit ironic.

PUGPROUD - 2/26/2019 5:05:08 AM

+7 Boost

A lawyer was specifically assigned to do so by the board after the SEC ruling, however the lawyer quit about a week ago because Musk made false statements on production numbers after being advised not to.

MDarringer - 2/26/2019 8:15:27 AM

+5 Boost

@SJD so statements made after the market closes have no impact the next day? Are you really that stupid?

supermoto - 2/26/2019 9:38:23 AM

+7 Boost

The 500k figure is a flat out lie, and Musk knew it. 500k can only be reached after a China factory is built (likely never). The "factory" is currently a patch of mud with not a penny of funding to build anything.

Plus EM violated the SEC's order making any communications that were not reviewed by counsel.

EVisNow - 2/26/2019 1:38:51 PM

-6 Boost

Much ado about nothing! It's an embarrassing attempt to show off "power" by the bureaucrats at SEC. It reminds me of the clerks at the city hall or DMV offices.

https://electrek.co/2019/02/26/tesla-tsla-stock-regain-sec-overreaching-elon-musk-tweets/

ricks0me - 2/26/2019 3:20:29 PM

+1 Boost

See the 1st post in this thread. Enof Said