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Photo: JIM WATSON/AFP/Getty Images

Elon Musk was in "blatant violation" of a settlement agreement and his defense against being held in contempt "borders on the ridiculous," the Securities and Exchange Commission said in a court filing Monday.

Details: The SEC alleges Musk violated the terms after tweeting on February 19 that Tesla would build 500,000 cars in 2019. He quickly clarified in another tweet the company would build at an annual rate of 500,000 cars by the year's end but it would only build 400,000 cars in 2019. His attorney told a federal last week Musk's tweet was "immaterial." Lawyers for the SEC found it "stunning to learn" Musk had not sought pre-approval for his tweets about Tesla in the months since the court-ordered pre-approval policy went into effect.

Go deeper: Pro Rata Podcast: Elon Musk's surprise settlement

What they're saying: “Musk’s contention — that the potential size of a car company’s production for the year could not reasonably be material — borders on the ridiculous,” lawyers for SEC wrote. “His interpretation is inconsistent with the plain terms of this court’s order and renders its pre-approval requirement meaningless."

What's next: U.S. District Judge Alison Nathan, sitting in Manhattan, will decide if Musk should be held in contempt of court and whether he should be punished.

Go deeper

Updated 56 mins ago - Politics & Policy

Facebook paying up to $14M to settle employment discrimination claims

Photo: T.J. Kirkpatrick/Bloomberg via Getty Images

Facebook has agreed to pay up to $14.25 million to settle allegations that it discriminated against American workers by reserving positions for temporary visa holders, the Justice Department announced on Tuesday.

Why it matters: The settlement represents the largest civil penalty and monetary award that the Civil Rights Division has recovered in the 35-year history of the Immigration and Nationality Act's anti-discrimination provision.

Updated 3 hours ago - World

Mapping repression in China's Xinjiang region

Data: © Mapbox, © OpenStreetMap; Map: Will Chase/Axios

A sweeping new report released today by an Australian research organization reveals new details about how the Chinese Communist Party — and specifically who within the party — is carrying out its campaign of repression in Xinjiang.

Why it matters: Uncovering the actual offices and individuals implementing the Chinese government's genocide and forced labor policies in Xinjiang can bring accountability and help international companies delink supply chains in compliance with U.S. and EU forced labor laws.

Report: U.S. Latinos near 50% homeownership rate

Real estate broker Alex Betances sits in front of a home in Reading, Pa. Photo: Ryan McFadden/MediaNews Group/Reading Eagle via Getty Image

Latinos increased their homeownership rate to nearly 50% in 2020, according to a report from a group monitoring U.S. Hispanic wealth creation.

Why it matters: The Hispanic Wealth Project found that the homeownership rate grew despite the lack of diversified financial assets among Latinos and around 15% who still live below the federal poverty line ($26,500 for a family of four).