The SEC claims Elon Musk violated his settlement with the agency when he tweeted about Tesla's 2019 production numbers.
Elon Musk has mocked the Securities and Exchange Commission on Twitter following the agency's accusation that he violated the terms of his settlement.
Following his infamous"funding secured" tweet last year, Musk agreed to have Tesla preapprove all of his communications with shareholders concerning"material" information about the company. The SEC claims Musk violated this deal when he tweeted about Tesla's 2019 production numbers last week, saying Tesla would produce 500,000 cars before almost immediately backpedalling.
Musk weighed in on Twitter after a fan pointed out that he'd given a production range of 350,000 to 500,000 in Tesla's Q4 earnings call on 30 January.Elon Musk has fired back at the Securities and Exchange Commission after the agency accused him of violating his settlement following the"funding secured" tweet fiasco.
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