WELCOME

But Musk's lawyers argue that's not enough to stop the

May 21, 2018 by Kenneth Newton

But Musk's lawyers argue that's not enough to stop the SEC from pursuing a criminal case against him, and that his actions are tantamount to "an assault on the right to form, engage in, and disseminate any kind of information, ideas, or opinions about, or about the conduct of, Tesla."

"We will fight this," Musk told investors in August. "We will go beyond the usual legal action, we will go beyond the general rule of law, we will go beyond even the most basic of principles" and "we are ready to fight every one of your questions, every one which is raised to you as to why someone has a right to make a statement of fact or opinion in a publicly announced company.

The SEC sued Musk for the violation of the rules of the game, and he was fired from Tesla. Now, the SEC is seeking to block him from continuing in Tesla. (Read our article on the SEC's investigation of the matter.)

In April, the SEC filed a motion for a preliminary injunction to force Musk to pay a $500,000 fine for using and promoting an "online forum" for Tesla's Model 3, the Model S sedan, and the Tesla Roadster. According to the company's official financial statements, the lawsuit seeks to force Musk to pay a civil penalty of $25,000.

But in its complaint, the SEC notes that neither the company nor the company's attorneys appear concerned about the damages they may incur if they are caught up in the ongoing investigation.

In a statement yesterday, Tesla announced that its initial public offering "will be in the next few weeks" and that its stock has climbed by more than 4,300 percent to $8.50.