FIRST AIRED: February 26, 2019

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00:00:00
the lan must maybe in trouble again over a tweet on Monday the U. S. securities and exchange commission asked the judge to hold the Tesla CEO in contempt saying the billionaire violated last year's quarter that required musk to seek pre approval of any written communications including social media posts that had information material to test love or its shareholders the SEC pointed to this tweet from musk posted last week that says test let made zero cars in twenty eleven but will make around five hundred K. in twenty nineteen the regulator said it reached a settlement reached last year over this tweet in which musk said he could take Tesla private at four hundred twenty dollars a share and that the funding had been secured the SEC said that amounted to fraud and settled with Moscow %HESITATION paid a twenty million dollar fine and was ordered to step aside as test was chairman for three years the electric car company also had to pay twenty million dollars it's not yet clear what the latest motion from the SEC could mean for Moscow or Tesla but no response by Teslin musk's lawyer disclosed by the SEC the half a million unit production number was already communicated during the company's fourth quarter earnings call and musk subsequently clarified his tweet to say that the annualized production rate at and twenty nineteen would probably be about five hundred thousand with delivery is expected to be about four hundred thousand continues on Monday sent shares of Tesla down roughly five percent in after hours trading