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00:00:00
and %HESITATION we think with the resources here that the lawn mosque fired back at U. S. regulators on Monday his lawyers argue that a recent tweet from the Tesla chief did not violate his fraud settlement and he cannot be held in contempt it's part of the latest public clash between musk and the securities and exchange commission musk sent out a tweet to his more than twenty four million Twitter followers last month claiming Tesla would make around five hundred thousand because this year the SEC then asta federal court in Manhattan to hold mosque in contempt for that they said it reached a fraud settlement from back in September musk slow is disputed that Monday and called it quote concerning an unprecedented overreach on the part of the SEC the fraud agreement came at a much earlier tweet that got mosque in hot water in August he tweeted that he had funding secured to take Tesla private at four hundred twenty dollars per share the SEC said he misled investors and that it amounted to securities fraud the deal to go private never came and the SEC filed a lawsuit musk settled as part of a deal that blocked him from putting insider information about Tesla on social media if you hadn't asked the company first musk also stepped down as chairman plus he and Tesla agreed to pay a twenty million dollars each in fines mosques latest spat with the SEC is added pressure on the Tesla boss he's struggling to help the company turned a consistent profit after a price cut for the model three said Dan and on Monday the company made a sudden you turn rolling back plans to close stores around the world but said it would raise the prices of higher end vehicles it's not clear what will happen if muskies actually held in contempt legal experts have said the SEC has a range of options against mosque they could slap him with a larger fine restrict more of his activities or remove him from Tesla's board