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News Link • Courtroom and Trials

SEC Slams "Ridiculous" Elon Musk "Reckless Conduct" In Contempt Motion Response

• https://www.zerohedge.com, By Tyler Durden

Musk had argued against the contempt of court motion days ago, with his well-paid lawyers bizarrely calling it an "unconstitutional power grab". Musk's lawyers argued, on his behalf, that production numbers - the lifeblood of the company's relationship to Wall Street - were immaterial, also claiming that the Tweet "dutifully complied with the [settlement] Order".

The SEC made it clear in their response that they saw things very differently. They eviscerated the argument that production numbers were somehow not material, arguing:

"Musk's recognition of the significance of Tesla's vehicle production forecasts to investors is evidenced by the frequency with which he and Tesla highlight such forecasts in their public statements. For years and continuing through the company's most recent earnings release, Tesla and Musk have prominently featured vehicle production forecasts in their public communications, including Tesla's investor letters, Musk's tweets, and the company's filings with the SEC.

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