Elon Musk says the SEC is making an ‘unconstitutional power grab’ over his tweets

Elon Musk says he shouldn’t be held in contempt of court over a recent tweet because he didn’t violate his settlement agreement, and “there is no basis to issue contempt sanctions against him,” according to a new court filing. The filing says Musk “correctly used his discretion to determine” that his February 19th tweet “did not contain information that could reasonably be considered material.”

The tweets in question are better understood as “proud and optimistic restatement of publicly disclosed information,” the filing says. The filing also notes that Musk’s tweets about yearly Tesla production came after the close of market. Further, Musk has attempted to comply with the settlement by tweeting less — showing that he’s taken it…

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Author: Sean OKane

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