SEC asks judge to hold Tesla’s Elon Musk in contempt, saying he violated settlement deal | Washington Post

Oops...

"The SEC accused Musk of breaking a deal to seek preapproval of any potentially market-moving tweets about the car company when he tweeted on Feb. 19 that Tesla would make about 500,000 cars this year. Four hours later, he tweeted that he “meant to say” the cars’ weekly production rate would equal up to about 500,000 on an annual basis but that the total car deliveries this year would be closer to about 400,000.

The next day, the SEC asked the company whether the tweets had been reviewed before being published, a requirement of a settlement agreement Musk reached late last year. The first tweet had not been preapproved, the company said. Instead, Tesla’s attorneys saw the tweet after it was published and then reached out Musk to draft a corrective second tweet, the SEC said in a motion filed in the U.S. Southern District Court.

“As a result of his failure to comply with the [settlement, Musk] once again published inaccurate and material information about Tesla to his over 24 million Twitter followers,” the SEC said."

SEC asks judge to hold Tesla’s Elon Musk in contempt, saying he violated settlement deal | Washington Post