SEC Asks Court for Order to Show Cause Why Elon Musk Should Not Be Held in Contempt
Litigation Release No. 24413 / February 27, 2019
Securities and Exchange Commission v. Elon Musk, No. 1:18-cv-8865 (AJN) (S.D.N.Y.) (filed September 27, 2018)
The Securities and Exchange Commission announced that on February 25, 2019, it filed a motion for an order to show cause why Elon Musk, CEO of Silicon Valley-based Tesla, Inc., should not be held in contempt for violating the terms of the Court's October 16, 2018 Final Judgment which required, among other things, Musk to obtain pre-approval of any written communications that contain, or reasonably could contain, information material to Tesla or its shareholders.