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Tesla Slips On Musk Mistake

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Tesla Slips On Musk Mistake

Tesla Slips On Musk Mistake

Tesla CEO Elon Musk violated the terms of his agreement with the Securities and Exchange Commission, the agency said in a court filing Monday.

In a tweet last week, Musk said Tesla would produce 500,000 vehicles this year.

He later corrected himself and said it would make only about 400,000.

Tesla weathered a rocky few months in the wake of Musk's tweets in August that he had " funding secured" for a deal to take Tesla private at $420 a share.

As part of his settlementwith the SEC, Tesla is supposed to preapprove all of his communications with shareholders that include "material" information about the company.

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