قالب وردپرس درنا توس
Home / Business / Tesla has just undermined the defense of Elon Musk against the SEC: JPMorgan

Tesla has just undermined the defense of Elon Musk against the SEC: JPMorgan



Tesla may have just injured Elon Musk's own case in his battle with the SEC, according to J. P. Morgan.

1; this was his February 19 Tweet that Tesla will produce around 500,000 vehicles in 2019 was not new information that needed prior approval, "Brinkman said.

Musk travels to the Federal Supreme Court in Manhattan on Thursday to continue his allusion to the Securities and Exchange Commission, which claims he has violated a previous deal by providing key information on February 19 had published about Tesla. [19659003] At the time, Musk tweeted to over 24 million Twitter followers: "Tesla made 0 cars in 2011, but will make around 500,000 in 2019."

Tesla shares fell in presale by 10 percent Thursday morning.

Although the government claims that Musk's tweet violated its commitment not to release any material information without obtaining the prior approval of corporate lawyers, the CEO claimed the information was harmless and would not need to be audited. He will try to convince the court that he did not violate an anti-fraud operation in October and should not be despised.

But Tesla's press release Wednesday night could undermine this argument with the latest production updates.

"Despite Moving Forward With the withdrawal of the tax credit for the first quarter of 2019 to the fourth quarter of 2018, US orders for model 3 vehicles exceeded the results we were able to deliver in the first quarter, reinforcing our previous guidance of $ 360,000 400,000 vehicle deliveries in 2019. "The press release states.

"Brinkman said," Even if it could be argued that official forecasts for the full year have risen from 360 to 400,000 in just a few hours, to 350-500,000 of Model 3 for the full year, at 420-600,000 total production on the 28th In February, and now again at 36-400,000 deliveries, we believe the discrepancy and inconsistency of this communication would still affect investor confidence. "


Source link