By Reuters | PUBLISHED: April 4, 2019 at 3:10 pm | UPDATED: April 4, 2019 at 3:11 pm By Brendan Pierson and Jonathan Stempel | Reuters NEW YORK – Elon Musk’s job as Tesla Inc’s chief executive appeared safe on Thursday as a federal judge in Manhattan urged the billionaire to settle contempt allegations by the U.S. Securities and Exchange Commission over his use of Twitter. At a hearing in Manhattan federal court, U.S. District Judge Alison Nathan gave both sides two weeks to work out their differences, and said she could rule on whether Musk violated his recent fraud settlement with the regulator if they failed. The hearing appeared to lift an overhang over Tesla, as the SEC stopped well short of recommending Musk’s removal as chief executive or even from the electric car company’s board. Instead, the regulator suggested that greater oversight of Musk’s communications, including the threat of new fines if he backslides, was punishment enough, at least for now. “What this is to the SEC is strike two, and if there is another transgression they might seek a director and officer bar,” said Peter Henning, a law professor at Wayne State University in Detroit and a… Read full this story
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