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Elon Mask says that he is "very happy" after negotiations with the SEC regarding settlements by a judge's decision



<p class = "canvas-canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Tesla ( TSLA [[RedditReactionstotheTeslaCompany(TSLA)EleonMuskevichfromManhattanonafour-daybasisovercomethedisputewiththeUSHouseofExchangesandSecurityIssuesontheCourtofJustice

Tesla's CEO Elon Musk is worried about leaving the Federal Court of Manhattan in New York on Thursday, 4 April 2019 Musk and his lawyers appeared before a federal judge in New York who will decide whether the Tesla CEO should be convicted of contempt of the court for breach of an agreement with the US Securities and Exchange Commission. (AP Photo / Richard Drew)

"I am very pleased with the results and very impressed by the analysis of Judge Nathan," Mus declared to journalists after a nearly two hour hearing, during which lawyers Muska and SEC argued,

Judge Alison Nathan ordered the parties to provide at least one hour in the next two weeks to try to resolve their differences regarding the Mask February 19, 19459003. 0 cars in 2011, but will make approximately 500k in 2019, "Musk said in a controversial tweet, which was later corrected. to tell the company would build ave roughly 400,000 vehicles and reaching an annual production rate of around 500,000. Must be disrespectful, based on his position that his tweet has violated a previous court order requiring him to obtain prior approval from the appointed Tesla representative to the placement of tweets that may or may reasonably contain information materials for the shareholders of Tesla or Tesla.

<p class = "canvas-text canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The order was based on an agreement between Musk and SEC after How SEC filed a Muscle Fraud complaint for & nbs August 7 Tweet & nbsp; in which Musc falsely claimed to have funded to take Tesla private. data-reactid = "40"> The order was based on an agreement between Mus and the SEC after the SEC filed a fraud complaint against Musc on on August 7 in which Musc falsely claimed that he provided funding

"The door was to be knocked" [19659009] Lawyers spent and most of her scheduled 45 minutes answering Nathan's questions about the language of the agreement on consent.

Musc's lawyer, John Weston argued that Mask could not have broken the order, because before setting the tweet he determined its contents as inessential , and therefore outside the scope of the mandate. Judge Nathan suggests that the SEC should have tried to develop its dispute with Mus, before filing a petition for bringing a case to court.

Tesla CEO Elon Mask leaves the federal court of Manhattan after hearing a fraudulent settlement with the Securities and Exchange Commission (SEC) in New York, USA on April 4, 2019. REUTERS / Brendan McDermid

The case of "cries of development", answered by Judge Nathan.

Musk was serious and busy during the whole time of the hearing, and laughed with the judge and others in the courtroom during a hypothetical question by Nathan about whether it was possible to edit the tweet.

While the PEC's submission was silent about how the court should condemn the Mask, if it is in contempt. as the court dismisses Musk's argument, arguing that he has powers as an arbiter, whose communications contain material information, and Musku to report to the court periodically on his approved and unapproved communications.

If Musk and the SEC can not reach the agreement and Nathan keeps him in contempt, the court has the opportunity to impose additional civil fines, further limit communication with social media Mask, remove Mask as CEO, and remove him from the board of the company. However, Nathan admitted that the conclusion of unfairness was a "serious matter", which the court should be cautious about.

"The court is a little upset because they want to serve as a strong deterrent. shareholders, "John Cava Jr., a law professor at Columbia University, told Yahoo Finance earlier. "I do not think that any judge wants to remove him from Tesla, because many people believe that Tesla can not survive without him."

"The SEC has the authority to ban people from serving as an officer or director of any public company, but this usually requires evidence of fraud," said Kawa. "It's not impossible to put someone in the spot for contempt, but it looks like it was an untruthful mistake, or at least it was his typical unreasonable mistake and not the intent of deceiving investors." falling quarter by quarter over supply quarter. In a note JPMorgan analyst Ryan Brinkman stated that this decline undermined the legal protection of Mask vs. SEC. Although the judge's question was not focused on Tesla's quarterly work, Mask's lawyer argued that Tesla's stock trading, stock prices and analysts did not react to the tweet on February 19.

<p class = "canvas-canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Alexis Keenan – Yahoo Finance Reporter from New York @alexiskweed . "data-reactid =" 76 "> Alexis Keenan – New York Yahoo Finance reporter . Earlier she produced live news for CNN and is a former lawyer for litigation. Follow Twitter on @alexiskweed .

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