A federal judge in Manhattan on Friday ordered Tesla Inc Chief Executive Elon Mu...
NEW YORK - A federal judge in Manhattan on Friday ordered Tesla Inc Chief Executive Elon Musk and the U.S. Securities and Exchange Commission to meet for at least an hour to try to settle the agency’s concerns over the billionaire entrepreneur’s use of Twitter.
In an order on Friday, the judge gave both sides until April 18 to reach a resolution. If they do not, the judge said she would decide whether to hold Musk in contempt. If he is held in contempt, the judge will allow the parties to weigh in on possible sanctions.When the SEC initially sued Musk in September, it had asked for his removal. The two sides settled in October, with Musk agreeing to step down as Tesla’s chairman.
The October settlement resolved a lawsuit over a tweet last Aug. 7 in which Musk said he had “funding secured” to take Tesla private at $420 per share.
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