SEC asks judge to hold Tesla’s Musk in contempt of violating deal

FILE PHOTO: Tesla and SpaceX CEO Elon Musk participates in a “fireside chat” at the National League of Cities (NLC) 2018 City Summit in Los Angeles, California, U.S. November 8, 2018. REUTERS/Kyle Grillot

(Reuters) – The U.S. Securities and Exchange Commission on Monday asked a judge to hold Tesla Inc’s Chief Executive Officer Elon Musk in contempt of violating a court’s order last year.

Shares of Tesla fell about 4 percent in extended trade.

Tesla did not immediately respond to a request for comment.

A U.S. judge in October approved a settlement between the federal regulator, Tesla and Musk, over his tweets promising to take the company private.

Reporting by Akanksha Rana in Bengaluru; Editing by Sriraj Kalluvila

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