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Reuters

In a faceoff with Elon Musk, the SEC blinked

WASHINGTON (Reuters) -U.S. securities regulators have pulled their punches in dealings with Elon Musk largely because an April 2019 court hearing on a statement he made about Tesla on Twitter didn’t go their way, according to four sources with knowledge of the matter. The U.S. Securities and Exchange Commission (SEC) asked the court to hold the billionaire in contempt, saying a tweet by the Tesla Inc. CEO – which forecast production at the carmaker – violated a court agreement Musk signed the previous year to have some of his communications vetted by a lawyer. By trying to rein in his comments, the SEC was veering into relatively uncharted territory.

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