U.S. District Judge
Musk and Tesla accused the
The SEC denied the claims in a letter to the judge, saying that agency enforcement staff has been in touch with Musk and Tesla, seeking to address concerns over their compliance with the settlements.
“The defendants’ precise application to the Court is unclear,” Nathan said in a two-page order denying the request on Thursday, suggesting that they file a proper request with the court if they seek relief from the court.
The dispute is the latest in a continuing battle between the SEC and Musk over his Twitter posts claiming he had the funding and investor support to take the company private at $420 a share. The SEC alleged the tweets were false, and while Musk and Tesla didn’t admit wrongdoing in the accord, the agency set up a “fair fund,” with $20 million each from Musk and Tesla, to compensate company investors.
The cases are U.S. Securities and Exchange Commission v. Musk, 18-cv-08865; U.S. Securities and Exchange Commission v. Tesla, 18-cv-08947, U.S. District Court, Southern District of New York (Manhattan).
(Updates with SEC investigation into Musk stock sales. A previous version of this story corrected a reference to the number of SEC suits in third paragraph)
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