SEC Slams "Ridiculous" Elon Musk "Reckless Conduct" In Contempt Motion Response | WHAT REALLY HAPPENED


SEC Slams "Ridiculous" Elon Musk "Reckless Conduct" In Contempt Motion Response

On Monday night, the Securities and Exchange Commission responded to Elon Musk's "contempt" defense, shredding Musk's arguments and making it clear that the regulatory agency will not back down in its attempt to get Musk held in contempt of court following a February tweet regarding Tesla's production guidance.

Musk had argued against the contempt of court motion days ago, with his well-paid lawyers bizarrely calling it an "unconstitutional power grab". Musk's lawyers argued, on his behalf, that production numbers - the lifeblood of the company's relationship to Wall Street - were immaterial, also claiming that the Tweet "dutifully complied with the [settlement] Order".

Webmaster's Commentary: 

(Sigh). While I very much appreciated his brilliance and his vision, Musk is a guy who desperately needs a "Business Nanny" to avoid getting caught in another vise like this.

What he apparently cannot, or will not understand, is that the Securities and Exchange is going to get their "pound of flesh", one way or another.

A good Business Nanny would have successfully avoided this all together.

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