Musk and the SEC settled on a $28 million fine, his resignation of the position of chairman of Tesla's board of directors and - and this is surprisingly key - to stop tweeting about Tesla's business without the company's lawyers' approval. But because Musk and his leadership of the company are so intertwined Musk has regulators "over a barrel".
I'm personally curious how many lane changes have been cancelled in that time, as I have had a few instances where Autopilot attempted to merge into a gap that another auto was simultaneously trying to merge into from an adjacent lane.
But, another tweeted: "I loved it and I demand a live performance".
In a statement provided later by Tesla, Musk said: "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".
To support his arguments, Hueston cited an earlier exchange between the judge and Crumpton in which Nathan said she was "surprised" that the SEC left it up to Musk in so many instances to determine whether to run by his lawyers what he meant to put out publicly.
In North America, Model 3 was yet again the best-selling mid-sized premium sedan, selling 60% more units than the runner up. The call for help included the hashtag #stuckinaparkinglot indicating she had been left stranded... hopefully she had no other plans.
He then clarified: 'Meant to say annualized production rate at end of 2019 probably around 500k, ie 10k cars/week.
Tesla produced 77,100 vehicles and delivered 63,000 in the first quarter of 2019, the company said on Wednesday. Per the terms of the October settlement Tesla is required to review Musk's tweets containing information pertinent to investors prior to posting on his personal account.
Under the agreement hashed out previous year, Musk was supposed to stop tweeting about Tesla's business without a lawyer's approval.
The Space X boss said: "This might be my finest work".
Musk is worth $20.7 billion, according to Forbes magazine.
"Tesla's conduct is also troubling to the SEC", Crumpton said. The SEC did not accuse Tesla of contempt.
Musk's lawyer, John Hueston, countered that the "ambiguity" of the settlement made "the hard penalty of contempt" unfair. Analysts had predicted Tesla would come closer to replicating third-quarter results, but the quarterly delivery figure fell short of even their tempered expectations. The SEC tried to have Musk barred from running a private company.
Nord LB analyst Frank Schwope called the numbers "more shocking than disappointing" and said there remain doubts whether Tesla could deliver 400,000 cars this year.
And in the early morning of February 26, after the SEC filed its contempt motion, Musk tweeted: "Something is broken with SEC oversight".
The diver is reportedly taking legal action against Musk for defamation.