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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

Go deeper

Alayna Treene, author of Sneak Peek
6 hours ago - Politics & Policy

Kellyanne Conway's parting power pointers

Kellyanne Conway addresses the 2020 Republican National Convention. Photo: Nicholas Kamm/AFP via Getty Images

Kellyanne Conway has seen power exercised as a pollster, campaign manager and senior counselor to President Trump. Now that his term in office has concluded, she shared her thoughts with Axios.

Why it matters: If there's a currency in this town, it's power, so we've asked several former Washington power brokers to share their best advice as a new administration and new Congress settle in.

Go deeper (1 min. read)Arrow
Alayna Treene, author of Sneak Peek
6 hours ago - Politics & Policy

GOP holdouts press on with plans to crush Cheney

Screenshot of emails to a member of Congress from individuals who signed an Americans for Limited Government petition against Rep. Liz Cheney. Photo obtained by Axios

Pro-Trump holdouts in the House are forging ahead with an uphill campaign to oust Rep. Liz Cheney as head of the chamber's Republican caucus even though Minority Leader Kevin McCarthy told them to back down.

Why it matters: What happens next will be a test of McCarthy's party control and the sincerity of his opposition to the movement. Cheney (R-Wyo.) is seen as a potential leadership rival to the California Republican.

Go deeper (1 min. read)Arrow
Lachlan Markay
6 hours ago - Politics & Policy

Democrats aim to punish House GOP for Capitol riot

Speaker Nancy Pelosi passes through a newly installed metal detector at the House floor entrance Thursday. Photo: Drew Angerer/Getty Images

House Democrats plan to take advantage of corporate efforts to cut funding for Republicans who opposed certifying the 2020 election results, with a plan to target vulnerable members in the pivotal 2022 midterms for their role in the Jan. 6 violence.

Why it matters: It's unclear whether the Democrats' strategy will manifest itself in ads or earned media in the targeted races or just be a stunt to raise money for themselves. But the Capitol violence will be central to the party's messaging as it seeks to maintain its narrow majorities in Congress.

Go deeper (1 min. read)Arrow