Mar 12, 2019

Elon Musk accuses SEC of "unconstitutional power grab" over tweets

Photo: Robyn Beck-Pool/Getty Images

Elon Musk's lawyers told a federal judge Monday the Tesla CEO should not be held in contempt of court for tweets the Securities and Exchange Commission says violated a settlement agreement.

Details: The SEC asked last month for Musk to be held in contempt for publishing "inaccurate" information on Twitter about Tesla. The complaint relates to a February 19 tweet by Musk that Tesla would build 500,000 cars in 2019. He posted another tweet soon after clarifying that claim, saying Tesla would build at an annual rate of 500,000 cars by the end of 2019 but it would only build 400,000 cars this year.

What they're saying: In a response filing, Musk's lawyers said the SEC was trying to "trample on Musk's First Amendment rights" in an "unconstitutional power grab" that "smacks of retaliation and censorship" for saying in a "60 Minutes" interview he had no respect for the regulator. In a sworn declaration, Musk added he had "dramatically decreased" the amount he had tweeted about Tesla to ensure he complied with the settlement.

Go deeper: The Elon Musk vs. SEC battle has flared up again

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Orion Rummler
3 mins ago - Politics & Policy

New Jersey governor allows schools to reopen for in-person learning

Gov. Phil Murphy in December 2019. Phoot: Tayfun Coskun/Anadolu Agency/Getty Images

New Jersey Gov. Phil Murphy (D) announced Wednesday he will sign an executive order allowing private and public K-12 schools and universities to reopen for in-person learning in September.

The big picture: New York and New Jersey have now authorized school districts to begin reopening. Both states and Connecticut ordered travelers from 31 states to quarantine before crossing their state borders after they were able to manage the pandemic.

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Axios
Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 1:30 p.m. ET: 20,412,501 — Total deaths: 744,649— Total recoveries: 12,629,465 — Map.
  2. U.S.: Total confirmed cases as of 1:30 p.m. ET: 5,163,509 — Total deaths: 164,994 — Total recoveries: 1,714,960 — Total tests: 63,252,257 — Map.
  3. Politics: Pelosi on state of coronavirus stimulus talks: "It's a chasm"
  4. Business: U.S. already feeling effects of ending unemployment benefits.
  5. Public health: America is flying blind on its coronavirus response.
  6. Education: Gallup: America's confidence in public school system jumps to highest level since 2004.
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Orion Rummler
3 hours ago - Politics & Policy

Pelosi on state of coronavirus stimulus talks: "It's a chasm"

Democrats and the Trump administration remain "miles apart" on negotiations over a coronavirus stimulus deal, House Speaker Nancy Pelosi (D-Calif.) said on Wednesday.

Driving the news, via Axios' Dion Rabouin: Congress' failure to renew enhanced unemployment measures for millions of Americans at the end of July is already affecting consumer spending patterns, holding down retail purchases and foot traffic, economists at Deutsche Bank say.

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