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SEC shreds Elon Musk’s contempt defense, says he’s ignoring court order

Attorneys for the Securities and Exchange Commission on Monday blasted Tesla Inc. Chief Executive Elon Musk’s defense over whether he should be held in contempt of court, calling one of his main arguments “ridiculous.”

Last week, Musk said the SEC was overreaching and infringing on his free speech by seeking a contempt ruling over tweets he sent on Feb. 19. “Tesla made 0 cars in 2011, but will make around 500k in 2019,” Musk tweeted, before clarifying a few hours later: “Meant to say annualized production rate at end of 2019 probably around 500k, ie 10k cars/week. Deliveries for year still estimated to be about 400k.

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