Robyn Beck / AP
The Securities and Exchange Commission asked a federal judge to disregard Eles Musk, the CEO of Tesla Inc., for violating a court settlement that restricted his publications on his company's performance.
In a lawsuit filed Monday, the SEC argued that Musk had violated a deal reached last year that required the approval of the company's officials before public statements were made that could affect Tesla's share price.
On 19 February Musk tweeted that "Tesla" made 0 cars in 2011, but will produce around 500,000 in 2019. However, that statement contradicted Tesla's previous guidance on the productivity forecasts of the emerging auto company. Later, Musk said, "This means an annualized production rate by the end of 2019, probably around 500,000, or 10,000 cars a week. Deliveries for the year are still estimated at around 400,000. "
In their lawsuit, the SEC argued that Musk had fa The first tweet was reviewed and approved before shipment.
" He once again published inaccurate and material information through Tesla to its over 24 million Twitter followers, including members of the press, and provided this information to anyone with Internet access, "the SEC said.
Musk's lawsuits dated August 2018, when he publicly came up with the idea Tesla privately proposed a share price and said the plan was "backed up", but later withdrew the claim.
The SEC filed a lawsuit because Musk had misled the investors Control over Tesla, however, was deprived of the title of Chief Executive Officer and received a fine of 20 million US $.
He also agreed to approval before tweeting news about the company. In its submission, the SEC said the request was "clear and unambiguous".
A spokesman for the company did not immediately respond to requests for comment.