The love, hate relationship between Tesla's CEO Elon Mask and the SEC reached a new level on Monday. The regulator called on the Mask to disparage the violation of the previous decision, due to its propensity to tweet information violating the rules of the securities.
SEC (US Securities and Exchange Commission) filed a mockery of Muska. . He said, in particular, that he violated the regulation of fraud by sending tweets to material without prior approval. This news sent a twist of Tesla's stocks. It was a decline of up to 5% during the expanded trade on Monday.
We knew it would lead to this
CCN reported the latest
On February 19 he wrote a tweet:
Tesla made 0 cars in 2011, but will make about 500k in 2019
– Elon Musk (Elon Musk) @elonmusk) February 20, 2019
In his application, the DCCs aimed at these tweets, stating:
Musk did not seek and received no prior approval for the publication of this tweet, which was inaccurate and widespread more than 24 million people. Mus, therefore, violated the Court's final judgment, putting into effect precisely the fact that the preliminary provision of the final decision was intended to prevent.
Work Nerve SEC
Shortly after filing on Monday, the MSC wrote:  Oh, hello, lol pic.twitter.com/9WvbtTHoxS
– Elon Musk (@elonmusk) ] February 26, 2019
Switching SEC is any guess. However, this is an interesting time.
In misleading investors
the SEC filed a lawsuit against Musk in September 2018. She argued that he had "published a series of false and false statements for millions of people, including the press, using Twitter's social media platform." "
SEC found that Muska's" meager tweets "led to the fact that on August 7, 2018, the price of Tesla's shares increased by more than 6%. per share. Malicious tweets have raised Tesla's stock prices by more than 6% on that date, reports SEC.
As part of the deal, Musa had to pay a fine of $ 20 million. This is probably a change for a billionaire. However, the settlement also stripped him of his head's title, which allegedly stung his ego a bit.
Only the more aggravating was the requirement that Musk seek approval from the newly created supervisor of the accused to view anything he sends to social media, including Twitter
No Love Lost
During an interview with a television show "60 minutes" , Musk said:
"I want to be clear. I do not respect the SEC. "
He said about the role of the head that he prefers to" have no names at all. "
On tweeting, Musk said:
The only tweets that would be to be, let's say, be viewed & # 39; it would have been if the tweet had the probability of causing movement in the stock [price]. Otherwise, it's "hello, first amendment." As, freedom of speech is fundamental.
This is an interview with "60 minutes."
Time to be serious
Musks or plays with games from the SEC, or just does not care. For example, on February 20th, SEC employees asked Muska and Tesla to confirm whether Musk had complied with Tesla's previous procedures, as required by the final court decision.
their publication, but there is no suggestion that Musk sought or received the prior approval of any tweet before it was published.
Keep in mind that the day before, on February 19, Musk sent a tweeter over the production numbers, Later he tried to fix the tweet, but in vain for observers who knew about this, they wandered the SEC.
Appeals SEC states:
For all these reasons, the SEC deserves the order of the Court to indicate the reason why the defendant Elon Mask should not be convicted of disrespect for the final judgment of the Court of 16 October 2018. Bitcoin It remains to be understood whether he will now be serious when faced with a charge of harassment.
Musks may be indifferent when it comes to SEC, but the judiciary is not known for games. The petition for contempt is currently in the Southern District Court of New York.