SEC asks judge to hold Elon Musk in contempt

The Securities and Exchange Commission has asked a federal judge to hold Tesla CEO Elon Musk in contempt of a settlement deal reached last year.

The request from regulators in a court filing Monday sent the carmaker’s stock plummeting more than 4% after hours.

The US government’s ask is tied to a claim from Musk on Twitter last week that “Tesla made 0 cars in 2011, but will make around 500k in 2019.”

Regulators say that Musk did not ask for or receive pre-approval before publishing the tweet, per the terms of the settlement agreement.

He later had to send a follow-up tweet indicating that the company will actually deliver just 400,000 cars this year.

By Julia Horowitz, CNN Business

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.