US judge gives Tesla CEO Elon Musk,
SEC two weeks to work out their issues
- U.S Judge Alison Nathan said she had “serious concerns that no matter what I decide here, this issue won’t be resolved.”
- Everyone must follow the law, she said, whether you are a “small potato” or a “big fish.”
- Musk told reporters he was “happy” and “impressed with the judge’s analysis.”
- A federal judge gave Tesla CEO Elon Musk and the Securities and Exchange Commission two weeks to work out their differences, punting a request from the agency to hold him in contempt of court for allegedly violating an October securities fraud settlement.
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| Elon Musk seated in court watching SEC attorney Cheryl Crumpton make argument to Judge Alison Nathan Courtroom drawing by Elizabeth Williams |
Musk told reporters he was “happy” and “impressed with the judge’s analysis” as he left the hearing room in the U.S. District Court for the Southern District of New York on Thursday.
U.S Judge Alison Nathan said she had “serious concerns that no matter what I decide here, this issue won’t be resolved.” Nathan ordered both parties to “take a deep breath, put on your reasonableness pants” and work out a solution.
Musk was at the hearing on contempt charges requested by the SEC after he tweeted about the company’s production forecasts on Feb 19. His settlement agreement prohibits him from using Twitter to make statements about Tesla’s operations or financial position without company review and approval.
Nathan told Musk and the SEC that contempt charges are serious business. Everyone must follow the law, she said, whether you are a “small potato” or a “big fish.”
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