Tesla's Elon Musk, SEC to face off in US court on April 4
Updated : March 27, 2019 07:43 AM IST
US District Judge Alison Nathan scheduled oral argument on an SEC contempt motion for April 4 at 2 p.m. EDT (1800 GMT), after both sides said they saw no need for an evidentiary hearing.
Musk was accused by the SEC of violating his October 2018 fraud settlement with the regulator by tweeting on February 19 to his more than 24 million Twitter followers that Tesla could build around 500,000 vehicles in 2019.
Musk's lawyers have said the tweet was not material, and merely restated a target for his Palo Alto, California-based electric car company that he had discussed publicly in January.