Tesla CEO Elon Musk in 'clear violation' of SEC restraint, court hears
by Edward Helmore and agencies from Technology | The Guardian on (#4CG2N)
Musk and SEC given two weeks to work out an agreement about the billionaire's social media posts as share price falls 8%
The Tesla billionaire Elon Musk is in "clear violation" of a restraint issued by the US's top financial watchdog after Musk inaccurately claimed last year he had a buyer for the company, a court heard on Thursday.
A federal judge in New York heard oral arguments in a lawsuit brought by the Securities and Exchange Commission (SEC) seeking to hold Tesla's chief executive, in contempt for violating a settlement reached last September when Tesla agreed to vet Musk's public communications.
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