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The Federal Judge sets the date of April 4 to hear a case against Elon Musk



Judge Allison Nathan called for a hearing on April 4th. It is not clear when he will issue a decision.

Nathan is tasked with assessing the Commission's request that Musk will be dismayed for violating an agreement reached last year that requires prior approval for social media publications for the electric car company.

Musk fucks on February 19 that "Tesla has made 0 cars in 2011, but will make about 500,000 in 2019." Hours later he published a follow-up message stating that the company will deliver just 400,000 cars this year.

Although Musk corrected his mistake, regulators said he "re-published inaccurate and substantial information about Tesla for his 24 years.

DIK sued Musk last month, arguing that he had violated a deal last October to obtain prior approval for any post with information that is "material" to shareholders. Tesla agrees to set up a board committee to monitor these posts.

When filing a complaint, Tesla admits that Musk has not received any prior approval from anyone in the commission for her posts in February.

Musk maintains that he has thoroughly tried to follow the court settlement and that the SEC's request is a violation of his constitutional right to freedom of speech.

The battle between Musk and the SEC is back in August 201

8 when Musk heard that he had received funding to take private Tesla at a price of $ 420 per share. Tesla's stock rose after its announcement.

However, according to MSK, MSK did not provide funding, and in September the regulator filed a lawsuit indicating that he had misled the investors. Tesla and Musk were fined $ 20 million as part of the settlement, and Musk was forced to retire as Tesla's chairman. He remains the CEO of Tesla.

If Musk is found guilty of neglect, legal experts say he can face a fine, further restrictions on the use of his social media, and his dismissal as Tesla's CEO. Nathan could also reject the agreement with the SEC by effectively resuming the lawsuit against Musk and Tesla.


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