In a faceoff with Elon Musk, the SEC blinked

In a faceoff with Elon Musk, the SEC blinked

May 24, 2022 by Business & Finance | Reuters News Agency

Key Facts

  • Business & Finance 24 May 2022, 5:35 pm. 1 minute Reuters provided insight into how U.S. securities regulators have pulled their punches in dealings with Elon Musk, largely because an April 2019 court hearing on a statement he made about Tesla on Twitter didn’t go their way.
  • The U.S.
  • Securities and Exchange Commission asked the court to hold the billionaire in contempt, saying a tweet by the Tesla chief executive — which forecast production at the carmaker — violated a court agreement Musk signed the previous year to have some of his communications vetted by a lawyer.
  • Reuters sources said the judge’s remarks knocked confidence among officials that the courts would support them if they attempted to prosecute Musk’s activity on Twitter.

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