Tesla Elon Musk, SEC is asking for more time to reach agreement
Natan Dvir | Bloomberg | Getty Images
Elon Musk, CEO of Tesla Inc., smiles as he speaks to members of the media outside the federal court in New York, United States, Thursday, April 4, 2019.
Tesla CEO Elon Musk and US Securities and The Exchange Commission on Thursday sought another delay and asked to give the court another joint submission by April 30, stating whether they had entered into an agreement to settle a dispute over Musk's use of Twitter, both parties said in a court filing.
The secretary in February tried to get Musk found in contempt for a scam last year after the CEO tweeted details of Tesla production numbers that were not registered by lawyers from the electric vehicle.
Instead, the US District Court Judge Alison Nathan in Manhattan ordered Musk and SEC to try to resolve the dispute on their own. The parties have already requested an extension.
SEC sued Musk last year to make false statements after he tweeted on August 7 that he had "funding secured" to take Tesla privately at $ 420 per share. The parties settled and Musk agreed to go down as a leader and have company lawyers pre-authorize written communications, including tweets with material information about the company. Musk's lawyers have argued that February tweet did not contain new information that was essential to investors.
