The gendarmerie of the American Stock Exchange sued, accusing Elon Musk of violating an agreement that forbids him to disclose financial information about Tesla without the approval of his legal department.
Elon Musk is known to be a free electron, as impressive as it is provocative in its statements. He proved this again on Monday, February 25, tweeting that Tesla would produce " about 500,000 vehicles By 2019, inaccurate information since the manufacturer's goal was 360,000 to 400,000 vehicles.
Elon Musk runs the risk of being banned from chairing his own company
O Securities Commission (SEC) reacted immediately announcing its intention to sue Elon Musk for failing to comply with the agreement reached in September 2018 between the two parties.
O SEC believes in his complaint in a Manhattan courtroom that Elon Musk did very much what the terms of the judgment were to avoid "This procedure may lead the CEO to be prohibited from having the right to run a listed company.
Tesla's iconic CEO had already been called by the SEC last August to tweet a glimpse of the possible exit of his Nasdaq company.
Tesla made 0 cars in 2011, but will make about 500k in 2019
& Mdash; Elon Musk (@elonmusk) February 20, 2019
Tesla CEO extends probations for SEC
The SEC considered that these messages were intended to inflate Tesla's share price, not high enough for its liking. The employers of the listed companies do not have the right to make such announcements without presenting a concrete plan to the constable of the Stock Exchange.
Elon Musk had negotiated a wake up amiably removed him from his position as chairman of the Tesla board of directors. He also had to respect more controlled communication, and validate his different tweets by the legal services of the builder, in addition to paying a fine of $ 20 million.
The troublemaker of American technology never hid his contempt for the financial institution. " I have no respect for the SEC He said on the CBS channels in December 2018. Another scorn from the SEC, Elon Musk named his friend Larry Ellison, CEO of Oracle, as the independent director of Tesla.