After the battle line was drawn between Elon Musk and the “broken” SEC as he put it, federal Judge has yesterday urged both parties to work out an agreement within the next two weeks before deciding if Elon Musk should really be held in contempt.
Elon Musk in response has expressed his gratitude for the decision that was reached and in a statement disclosed the decision was fair enough. Read Below:
“I have great respect for Judge Nathan, and I’m pleased with her decision today. The tweet in question was true, immaterial to shareholders, and in no way a violation of my agreement with the SEC. We have always felt that we should be able to work through any disagreements directly with the SEC, rather than prematurely rushing to court. Today, that is exactly what Judge Nathan instructed.”
Elon Musk, Chief Executive, Tesla
Should both parties be unable to come up with a settlement independently which will most likely involve a huge fine much more than the initial $20 million paid. The Judge will have to come up with a decision to punish Musk without necessarily affecting other Tesla shareholders adversely
What started this scuffle you may ask? Here’s how Elon Musk’s uncensored tweet is costing him $20 Million or maybe more once a settlement is reached – if it is!
