Tesla CEO Elon Musk and the Securities and Exchange Commission have asked for a one-week delay to resolve their contempt of court dispute, the parties announced today in a joint submission a federal judge.
"While we have not reached an agreement, counsel for the SEC, Mr. Musk, and counsel for Tesla met and conferred for over an hour by telephone earlier this week and are continuing to discuss potential resolution. Because our discussions are ongoing, we respectfiilly request to provide the Court with another joint submission on or before April 25, 2019, indicating whether we have reached an agreement in principle," the submission says.
On April 4, a federal judge gave Musk and the SEC two weeks to work out their differences, punting a request from the agency to hold him in contempt of court for allegedly violating an October securities fraud settlement. U.S. Judge Alison Nathan said she had "serious concerns that no matter what I decide here, this issue won't be resolved." Nathan ordered both parties to "take a deep breath, put on your reasonableness pants" and work out a solution.
Now the parties are asking for one more week to figure it out.
The dispute stems from tweets Musk made in February that contained Tesla production forecasts.
from Top News & Analysis https://cnb.cx/2KQFwKX
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