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(Reuters) - Tesla Inc (TSLA.O) Chief Executive Elon Musk said the tweet that cost him and the company $20 million in fines each by the U.S. Securities and Exchange Commision was “Worth It”. The tweet, sent late Friday evening less than an hour before Musk tweeted that he would take a break from Twitter “for a few days,” was in response to a question from a Twitter follower. The SEC in September charged Musk, 47, with misleading investors with tweets on Aug. 7 that said he was considering taking Tesla private at $420 a share and had secured funding. The tweets had no basis in fact, and the ensuing market chaos hurt investors, regulators claimed.
SAN FRANCISCO (Reuters) - Tesla Inc (TSLA.O) has not received a U.S, subpoena related to its Model 3 production forecasts, the electric carmaker said on Friday, following a report that it faced a deepening criminal probe about the projections, The company has cooperated german 2 pfennig coin cufflinks in responding to what it called a “voluntary request” for documents from the Department of Justice in September, a Tesla spokesperson said, The agency has the ability to press criminal charges, “We have not received a subpoena, a request for testimony, or any other formal process, and there have been no additional document requests about this from the Department of Justice for months,” the spokesperson said in an email..
The Federal Bureau of Investigation is examining whether Tesla misstated information about the production of its Model 3 sedans and misled investors about its business going back to early 2017, the Wall Street Journal reported, citing sources. In recent weeks, FBI agents have contacted former Tesla employees to seek testimony in the criminal case, according to the report. The ex-employees received subpoenas earlier in the probe, and FBI agents recently have sought to interview a number of them, the sources said.
Any focus on Tesla’s past statements about Model 3 production targets would broaden the probe by the agency, which Tesla said last month was looking at statements made by Chief Executive Elon Musk about a go-private german 2 pfennig coin cufflinks deal that was later called off, Tesla first disclosed in September that the DoJ was investigating Musk’s tweets about having “funding secured” for a deal to take Tesla private, saying the agency had asked for documents about such statements, Any expansion of the FBI’s probe comes as Musk faces pressure to deliver consistent production of the Model 3 at a profit, The company on Wednesday posted a profit and positive cash flow, making good on pledges made by Musk earlier this year, as the company ramps up volume of its new sedan..
Tesla and Musk already face a proposed class action shareholder lawsuit claiming that the company and its top executives made false statements about the readiness of the Model 3 for volume production. The car, which the money-losing company is banking on to turn a profit, was introduced to the public in early 2016 to great fanfare, with repeated promises throughout 2017 that Tesla was “on track” to build 5,000 Model 3s per week by the end of that year at its factory in Fremont, California.
Such statements were fraudulent, according to the lawsuit, given that the automated assembly lines to build the car in such volume were behind schedule, Tesla has denied the claims in the lawsuit, saying it disclosed production bottlenecks once they were identified, and citing Musk’s public statements that the company was undergoing a period of “production hell” in 2017, Tesla only reached a goal to build 5,000 Model 3s per week in June, although current production has german 2 pfennig coin cufflinks fallen short of that..
(Reuters) - Qualcomm Inc (QCOM.O) said in a court hearing on Friday that Apple Inc (AAPL.O) is $7 billion behind in patent royalty payments to the mobile chip firm, which for years supplied parts for the iPhone. Apple and Qualcomm are involved in a series legal actions. Apple has accused Qualcomm of unfair patent licensing practices. Qualcomm, the world’s largest mobile phone chip supplier, has in turn accused Apple of patent infringement. Qualcomm made its comments about the size of Apple’s unpaid royalties in a hearing in one of the cases in federal court in San Diego. Apple has disputed the amount of royalties that it owes to Qualcomm.
MONTREAL (Reuters) - Delta Air Lines (DAL.N) Chief Executive Ed Bastian said on Friday he was satisfied with pilot contract language governing the outsourcing of regional flights and does not see it becoming an issue during upcoming negotiations, Bastian said he was “happy with existing” language, or scope clauses, which set guidelines on the size of planes that can be operated by regional feeder carriers, among other things, Commercial planemakers are closely watching for any change in pilot scope clauses, which bar planes heavier than 86,000 pounds (39,000 german 2 pfennig coin cufflinks kg) with more than 76 seats from regional routes, where pilots are generally paid less than their mainline counterparts, Pilots are fiercely opposed to any changes..