Tesla shares skid as Model S and X deliveries fall by half

Elon Musk is a Sound Cloud rapper now

Elon Musk is a Sound Cloud rapper now

But because Musk and his leadership of the company are so intertwined Musk has regulators "over a barrel".

It is rare for the SEC to seek a contempt finding. "They are just trying to send a message: be more careful".

Lawyers for the SEC are asking Nathan to hold Musk in contempt of court for violating an agreement he hammered out with the watchdog past year - and which the judge approved - to have his Tesla tweets monitored.

That requirement is part of a $40 million settlement reached previous year after Musk tweeted he lined up the financing needed to lead a buyout of a Tesla, a claim that the SEC asserted was a misleading statement that duped investors. Tesla and Musk each had to pay $20 million in fines and agree to governance changes that included Musk's removal as chairman.

"I have great respect for Judge Nathan, and I'm pleased with her decision today", Musk said in a statement to Roadshow. "The tweet in question was true, immaterial to shareholders, and in no way a violation of my agreement".

Musk was in federal court in NY for a hearing on charges of contempt requested by the SEC, the chief Wall Street regulator, which argued that Musk violated an October 2018 settle over securities fraud when he tweeted inaccurate production forecasts on February 19, 2019 despite agreeing to stop using Twitter to make statements about Tesla without the company's approval.

Another Heated Old Firm Derby as Celtic Beats Rangers
However, in the 85th minute James Forrest drove in the victor to take the champions 13 points clear at the top with seven games remaining.

The billionaire tech entrepreneur could be seen pacing in the security line at the downtown Manhattan federal courthouse ahead of a 2 p.m. contempt of court hearing before Judge Alison Nathan. Irwin rates Tesla "neutral".

He also turned to twitter where he has 25.5 million follower to promote his "Emo G Records".

Four hours later, Musk corrected himself, saying annualized production would be "probably around" 500,000 by year end, with full-year deliveries totaling about 400,000.

While this pulled some demand forward into the fourth quarter, the company said orders still outpaced the number of vehicles it was able to deliver in the first three months of this year. Per the terms of the October settlement Tesla is required to review Musk's tweets containing information pertinent to investors prior to posting on his personal account.

Tesla began constructing a factory in China to build the Model 3 and future Model Y compact-SUV for that market, and CEO Elon Musk has told reporters he intends on building an assembly plant in Europe.

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