LIVE: Elon Musk has arrived at court to face off against the SEC
Xinhua via Getty Images
Elon Musk and his legal team have arrived for a Thursday court hearing in the case against him brought by the Securities and Exchange Commission (SEC).
The legal spat dates back to the CEO's tweet that he was looking to take Tesla private at $420 per share. That go-private bid did not work out, and resulted in two, $20 million settlements between both Tesla and Musk with the SEC.
Musk also agreed to have his tweets monitored by a company employee, but Tesla has not disclosed who that "twitter sitter" is. That was fine, until Musk tweeted on February 19 that Tesla wold make 500,000 cars in 2019 - a substantial deviation from what the company had told investors in its regulatory filings.
Despite a correction later that morning, the SEC accused Musk of violating the agreement and asked the court to hold him on contempt of court.
The hearing, in US District Court for the Southern District of New York, kicks off at 2pm Eastern Thursday. Business Insider has a reporter inside the courtroom - follow along for live updates by refreshing this page:
Get the latest Tesla stock price here.
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