SEC Files Request to Court to Hold Musk in Contempt of Settlement Agreement (02.25.19)
Tesla Daily: Tesla News & Analysis
Rob Maurer
4.8 • 1.1K Ratings
🗓️ 26 February 2019
⏱️ 17 minutes
🧾️ Download transcript
Summary
– The Securities and Exchange Commission has filed a request to hold Elon Musk in contempt of his settlement agreement (Link to filings)
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The post SEC Files Request to Court to Hold Musk in Contempt of Settlement Agreement (02.25.19) appeared first on TechCast Daily.
Transcript
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| 0:00.0 | Hello and welcome to the Monday February 25th 2019 edition of Tesla Daily Unofficial |
| 0:12.2 | Tesla Podcast. |
| 0:13.2 | My name is Rob Maower. |
| 0:14.4 | Today we are talking about the SEC and Elon Musk. |
| 0:17.2 | The SEC has filed a case against Musk claiming that he has acted in contempt |
| 0:21.2 | of his settlement agreement with the SEC. |
| 0:23.8 | This all occurred after market closed prior to that, Tesla finished the day up 1.38% |
| 0:28.3 | $298.77 cents, which compared to the NASDAQ, up 0.36%. |
| 0:33.7 | However, more importantly, after hours, |
| 0:35.3 | we are currently down to $288 per share, |
| 0:38.8 | down 3.6% from the close today. |
| 0:42.0 | So first, we're going to take a look at the filings made by the SEC today. |
| 0:45.0 | I'll put a link to the documents in the show notes I would definitely recommend |
| 0:49.0 | reviewing those thoroughly. It's not that long. Also thank you to Karen R.E.I. on the Tessa forums. |
| 0:55.0 | That was the first place that I saw these documents. |
| 0:57.0 | Essentially what the SEC is taking issue with is a tweet from Elon last Tuesday evening, |
| 1:02.0 | where Musk tweeted, quote, |
| 1:03.6 | Tesla made zero cars in 2011, but will make around 500K |
| 1:07.5 | in 2019, end quote. |
| 1:09.7 | According to the SEC filing, quote, |
| 1:11.7 | Musk did not seek or receive pre-approval prior to publishing |
| 1:14.9 | this tweet, which was inaccurate and disseminated to over 24 million people. |
... |
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