Elon Musk's Lawyers Contend That The SEC Doesn't Have The Juice To Hold Musk In Contempt

Elon Musk’s lawyers said that the U.S. Securities and Exchange Commission failed to satisfy its heavy burden of showing that the Tesla Inc chief executive should be held in contempt, and the tweet prompting its contempt motion was both proper and “not material."

In a Friday filing in Manhattan federal court, Musk’s lawyers also said their client “respects his obligations” to the electric car company, its shareholders and the court.

Musk is trying to avoid being held in contempt for violating his October 2018 fraud settlement with the SEC, for having tweeted at 7:15 p.m. EST on Feb. 19 to his over 24 million Twitter followers that Tesla could build around 500,000 vehicles in 2019.

SEC spokesman Ryan White declined to comment...
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PUGPROUD - 3/24/2019 9:08:57 AM

+1 Boost

Juice or no juice, Musk keeps drinking the Koolade and his lawyers Pappy Van Winkle 23 year old Family Reserve on his tab.

MDarringer - 3/24/2019 10:54:03 AM

+1 Boost

I think the SEC should inconvenience Elon to the maximum extent possible. Someone has to deal a throat punch to this drug-addicted, arrogant clown.

Truthy - 3/24/2019 11:54:14 AM

+1 Boost

I have nothing to add. Not smart to taunt the SEC.

EVisNow - 3/24/2019 12:11:37 PM

-1 Boost

He's laughing at you, kids!

MDarringer - 3/24/2019 12:35:54 PM

+3 Boost

He's going to be laughing to jail, you mean.

MDarringer - 3/24/2019 4:24:59 PM

+1 Boost

NONE of their "technology" is anything that everyone else doesn't already have as well.

SanJoseDriver - 3/30/2019 5:54:18 AM

+1 Boost

I don't see any other cars doing autonomous lane changes, freeway-to-freeway self-driving, or red light detection.