Tesla head Elon Musk, SEC get another week to work out deal on Twitter use
by SOURAV D | VIEW 1199
On Thursday, the 18th of April 2019, a US Federal Judge had ruled that the US Securities and Exchange Commission and Chief Executive of Tesla Inc., Elon Musk would receive another week to settle dispute over a Musk’s comment on Twitter, which US SEC had claimed that breached rules of US securities and Exchange commission and the Tesla Inc.
head should be held in contempt for his comments.Earlier this month, US district Judge, Alison Nathan had ordered Tesla boss, Elon Musk and US SEC to meet for at least an hour to resolve their differences.
However, in response to a Thursday (April 18th) court filing where both sides had requested for an extension saying that the talks were ongoing, Manhattan District Judge, Alison Nathan had extended the deadline of the talks by one week up to April 25th.
As beforementioned, the Manhattan Federal Court had been asked to hold Tesla head, Elon Musk in contempt over a February 19th tweet, which SEC claimed, violated an earlier settlement with the agency. Followed by the hearing of extension, the Federal Judge had also added that she would be ruling on contempt request, if SEC and Musk failed to resolve their disputes.