BUSINESS

The entrance to Payless ShoeSource at the Coastland Center Shopping Mall. (Photo by: Jeffrey Greenberg/UIG via Getty Images)

Payless ShoeSource To Close All Remaining 2,100 Stores

Las Vegas - Circa July 2017: Amazon.com Fulfillment Center. Amazon is the Largest Internet-Based Retailer in the United States IV

Amazon To Pay $0 In Federal Taxes In 2019: Report

Pedestrians pass in front of a 'Going Out Of Business' sign displayed outside a Toys 'R' Us retail store at Times Square in New York, U.S., on Friday, May 11, 2018. As playtime ends for Toys 'R' Us, customers are being invited to attend the bankrupt company's final sales and snap nostalgic selfies with a Geoffrey the Giraffe banner and the #alwaysatrukid hashtag. Photographer: Jeenah Moon/Bloomberg via Getty Images

Severance Pay Could Be The Next Big Progressive Labor Cause

Waxhaw, NC

Karen Ward outside her home in Waxhaw, NC. Ward is filing suit against major consulting company Ernst and Young for sexual discrimination.

(Travis Dove for The New York Times)

She Spoke Up About Sexual Harassment At Ernst & Young And Got Caught In A Web Of Retaliation

ShopSpring.com

Gucci Apologizes For Black Balaclava Sweater That Resembles Blackface Caricatures

FILE - In this Jan. 4, 2013, file photo, Lyft driver Nancy Tcheou uses her phone to accept a ride from a passenger in San Francisco. The rise of on-demand apps and services are bringing up questions on what to tip drivers, Instacart grocery delivery people and others. (AP Photo/Jeff Chiu, File)

Instacart Ends Misleading Tip Policy After Workers Revealed Unfair Wage Practices

General Motors Detroit/Hamtramck assembly worker Henry Fleming holds his protest sign before the start of a rally to protest GM's planned plant closures in Detroit, Michigan, U.S. January 18, 2019. REUTERS/Rebecca Cook

General Motors About To Begin Laying Off 4,200 Salaried Workers

Trump's Trade War Adds To Harley-Davidson Troubles

Change.org

Thousands Say Nike Air Max Sneaker 'Offensive' To Muslims, Petition For Recall

U.S. President Donald Trump tours Foxconn in Mount Pleasant, Wisconsin, U.S., June 28, 2018. REUTERS/Kevin Lamarque

Foxconn Shifts Focus From Wisconsin Manufacturing Plan

FILE - In this Dec. 16, 2017, file photo provided by the Santa Barbara County Fire Department, flames burn near power lines in Sycamore Canyon near West Mountain Drive in Montecito, Calif. State fire officials blamed power lines coming into contact with trees for sparking four Northern California wildfires last October that incinerated more than 130 buildings. In a statement released Friday, May 25, 2018, officials indicated three of the fires could have been prevented if Pacific Gas & Electric Co. had made more efforts to keep trees clear of its power lines. PG&E says it is reviewing those conclusions. (Mike Eliason/Santa Barbara County Fire Department via AP, File)

PG&E Bankruptcy: Largest Utility In The U.S. Files For Chapter 11

U.S. Charges Chinese Tech Giant Huawei, Top Executive

$Oil rigs stand in the Permian Basin area of Odessa, Texas, U.S., on Saturday, Jan. 19, 2019. In the Permian, America's busiest oil patch, a producer needs to blast as much as 60,000 barrels of water into a well every day, along with sand and chemicals, to complete the fracking that cracks open the tight, oil-bearing rock about a mile underground. Photographer: Sergio Flores/Bloomberg via Getty Images$

Getty Editorial

Oil Giants Invest $110 Billion In New Fossil Fuels After Spending $1 Billion On Green PR

By Alexander C. Kaufman and Chris D'Angelo

DETROIT — U.S. securities regulators countered Tesla CEO Elon Musk's contempt-of-court defence Monday night, writing in court papers that he brazenly disregarded a federal judge's order and that one of his arguments "borders on the ridiculous."Lawyers for the Securities and Exchange Commission, in a response to Musk, wrote that when the contempt motion was filed in February, Musk had not had a single tweet approved by a company lawyer, violating a requirement of a court-approved settlement order.The October securities fraud settlement stemmed from tweets by Musk in August about having the money to take Tesla private at $420 per share. But Musk didn't have the funding secured. Tesla and Musk each had to pay $20 million in fines and agree to governance changes that included Musk's removal as chairman.SEC lawyers led by Cheryl Crumpton wrote in a response to Musk's defence that he interprets the settlement order as not requiring pre-approval unless Musk decides the tweets are meaningful to investors. The agency said Musk's argument that tweeting about car production forecasts on Feb. 19 wasn't material information is nearly ridiculous. "His interpretation is inconsistent with the plain terms of this court's order and renders its pre-approval requirement meaningless," the lawyers wrote.U.S. District Judge Alison Nathan in Manhattan will decide if Musk is in contempt and whether he should be punished. The SEC said no hearing is necessary on the matter "because there appear to be no disputed issues of material fact."Musk's lawyers wrote last week that the Feb. 19 tweet merely restated previously approved disclosures on electric car production. They wrote that the tweet, which was published after the markets closed, neither revealed material information, nor altered the mix of data available to investors.The lawyers also accused the Securities and Exchange Commission of censorship and of violating Musk's First Amendment rights by imposing a prior restraint on his speech.But the SEC lawyers wrote that submitting statements for approval does not mean Musk is prohibited from speaking. "As long as a statement submitted for pre-approval is not false or misleading, Tesla would presumably approve its publication without prior restraint on Musk," they wrote. The SEC also wrote that Musk waived any First Amendment challenge to the order when he agreed to it.Musk's lawyers also argued that the SEC's motion for contempt is an over-reach that exceeds its authority. But the SEC said enforcement of the order is up to the judge, who has broad powers to enforce court orders.Also Monday, Musk lawyer, former Enron prosecutor John C. Hueston of Newport Beach, California, asked the court for permission to file another response to the SEC, this one by Friday.In a one-page letter to the judge, Hueston said the SEC raised new allegations in its reply, which he contends is improper. He called the new assertions "unsupported" and asked to submit documentation about negotiations with the agency "which undermines the newly-presented interpretation the SEC sets forth in its reply."Monday's filing said the Feb. 19 tweet was different from prior public disclosures by the company. Also, Musk has regularly published tweets with "substantive information" about the company and its business, the SEC contended.Musk's 13-word Feb. 19 tweet said that Tesla would produce around 500,000 vehicles this year, but it wasn't approved by the company's "disclosure counsel," the SEC has said.The lawyer quickly realized it and arranged a meeting with Musk to write a correction. The company would make vehicles at a rate of 500,000 per year, but it wouldn't produce a half-million in 2019.Musk's response by Hueston said that the settlement allows Musk "reasonable discretion" to determine if his communications would require the lawyer's approval. In the case of the Feb. 19 tweet, Musk determined that it did not.Legal experts say it's unlikely that Musk will be punished severely, but the commission wants to get on the record that Musk violated the terms, to prepare for any future violations.The tweet was posted and corrected after U.S. markets had closed, but experts say regulators don't care much about that because stocks are traded nearly around the clock. Tesla's stock rose by just $1.10, or less than 1 per cent, the next day.Tom Krisher, The Associated Press

The Canadian Press

SEC Urges Court To Hold Elon Musk In Contempt Over Tweets

FILE - This Wednesday, Sept. 21, 2016, file photo shows Exxon Mobil's Billings Refinery in Billings, Mont. Exxon Mobil Corp. is reporting fourth-quarter profit of $1.68 billion on Tuesday, Jan. 31, 2017. (AP Photo/Matthew Brown, File)

ASSOCIATED PRESS

Exxon’s Climate Denial Set To Face First Public Scrutiny As Legal Woes Mount

By Alexander C. Kaufman

A worker walks next to a Boeing 737 MAX 8 airplane parked at Boeing Field, Thursday, March 14, 2019, in Seattle. The fatal crash Sunday of a 737 MAX 8 operated by Ethiopian Airlines was the second fatal flight for a Boeing 737 Max 8 in less than six months, and more than 40 countries, including the U.S., have now grounded the planes or refused to let them into their airspace. (AP Photo/Ted S. Warren)

ASSOCIATED PRESS

Report: Safety Analysis Of 737 MAX Software Program Had 'Crucial Flaws'

oil pumpjacks in silhouette at sunset (XXXL)

sharply_done via Getty Images

Big Business Spent $1.4 Billion On PR, Advertising Over The Last Decade

By Chris D'Angelo

SAN ANSELMO, CA - AUGUST 03: Bottles of Anchor Steam beer are displayed on August 3, 2017 in San Anselmo, California. San Francisco based Anchor Brewing announced plans to sell to JapanÕs Sapporo Holdings Ltd for an undisclosed amount. Anchor Steam has brewed in San Francisco for 121 years. (Photo by Justin Sullivan/Getty Images)

Justin Sullivan via Getty Images

Inside The Union-Busting Campaign At America's Original Craft Brewery

By Dave Infante

SANTA FE, NEW MEXICO - AUGUST 1, 2018: A UPS (United Parcel Service) truck driver makes a delivery in Santa Fe, New Mexico. (Photo by Robert Alexander/Getty Images)

Robert Alexander via Getty Images

Teamsters Union Faces Revolt From Members Over UPS Contracts

By Dave Jamieson

USD rain on black background

R&A Studio via Getty Images

Thrilled With Trump's Tax Law: Blue Cross Blue Shield Parent HCSC Reaps $1.7 Billion Refund

By Mary Papenfuss

The Chrysler Building, center, stands next to other midtown skyscrapers, Wednesday, Jan. 9, 2019, in New York. The art deco masterpiece that was briefly the world's tallest skyscraper when it was completed in 1930 is up for sale. (AP Photo/Mark Lennihan)

ASSOCIATED PRESS

New York's Iconic Chrysler Building Is Sold For Bargain Price Of $150 Million

By Carla Baranauckas

LOS ANGELES, CALIFORNIA - FEBRUARY 10: Kylie Jenner arrives at the 61st Annual GRAMMY Awards at Staples Center on February 10, 2019 in Los Angeles, California. (Photo by Steve Granitz/WireImage)

Steve Granitz via Getty Images

The 'Self-Made Billionaire' Is A Lie

Author Tomas Chamorro-Premuzic speaks with Caroline Modarressy-Tehrani

The Case For Discriminating Against Incompetent Men

By Caroline Modarressy-Tehrani

LONDON, ENGLAND - JULY 19: A general view of a Claire's Accessories store entrance on Oxford Street on July 19, 2018 in London, England. (Photo by John Keeble/Getty Images)

John Keeble via Getty Images

FDA Confirms Asbestos In Claire’s And Justice Makeup Products

By Carla Herreria

ARCHIVO- Esta foto del 20 de marzo del 2018 proveída por la Junta Nacional de Seguridad del Transporte de Estados Unidos muestra a investigadores examinando un vehículo autónomo de Uber que atropelló y mató a una mujer en Tempe, Arizona. (Junta Nacional de Seguridad del Transporte vía AP)

ASSOCIATED PRESS

Uber Not Criminally Liable After Self-Driving Car Killed Woman: Local Prosecutor

FILE PHOTO: A bottle of prescription painkiller OxyContin, 40mg pills, made by Purdue Pharma L.D. sit on a counter at a local pharmacy, in Provo, Utah, U.S., April 25, 2017. REUTERS/George Frey/File Photo

OxyContin Maker Purdue Pharma Considering Bankruptcy Filing: Reports

In this Oct. 20, 2014 photo, third generation coal miner Keith Johnson takes off his boots as he arrives home after working the graveyard shift underground in a coal mine in Evarts, Ky. Johnson has managed to keep mining in Harlan County. But it's been a struggle. In the past two years, he's been laid off from one coal company, then moved to another, only to have it close when a long-term contract expired. At 43, he's gone from being a foreman making about $100,000 a year to a common miner at $20 an hour. "A few years ago I would have said we'd live a long life here," says Johnson. "But its dim, there's just not enough money to sustain your family here. It's a bleak outlook." (AP Photo/David Goldman)

ASSOCIATED PRESS

Kentucky Coal Manager Charged With Defrauding Regulators In Black Lung Case

By Dave Jamieson

FILE - This June 17, 2014 file photo shows the Wynn Las Vegas and Encore resorts in Las Vegas, both owned and operated by Wynn Resorts. Nevada gambling regulators are due to sanction casino mogul Steve Wynn's former company for failing to investigate claims of sexual misconduct made against him before he resigned a year ago. A fine against Wynn Resorts Ltd. could amount to millions of dollars when the state Gaming Commission takes final action Tuesday, Feb. 26, 2019, to end a year-long investigation. (AP Photo/John Locher, File)

ASSOCIATED PRESS

Wynn Resorts Fined $20 Million Over Sexual Misconduct Allegations

General Electric Co. (GE) and Texas flags fly outside the GE Manufacturing Solutions facility in Fort Worth, Texas, U.S., on Tuesday, Oct. 25, 2016. The U.S. Census Bureau is scheduled to release durable goods figures on October 27. Photographer: Luke Sharrett/Bloomberg via Getty Images

Bloomberg via Getty Images

Close To 2,000 Manufacturing Workers Just Went On Strike In Pennsylvania

By Dave Jamieson

Tesla CEO Elon Musk attends the Tesla Shanghai Gigafactory groundbreaking ceremony in Shanghai, China January 7, 2019. REUTERS/Aly Song

Aly Song / Reuters

SEC Says Elon Musk Violated Fraud Settlement With Tweet

“Bulls & Bears” panel discusses the privacy concerning surrounding Facebook and whether Congress needs to regulate the tech giant.

Fox Business Videos

Facebook Is Collecting App Users' Data Without Consent, Wall Street Journal Finds

By Lydia O'Connor

Bottles of Johnson's baby powder are displayed in a store in New York City, U.S., January 22, 2019. REUTERS/Brendan McDermid

Brendan McDermid/Reuters

Johnson & Johnson Subpoenaed By DOJ, SEC Over Baby Powder Safety Concerns

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