Tag Archives: shoots

Elon Musk shoots back at US regulators, accusing them of 'retaliation and censorship'

Elon Musk shoots back at US regulators, accusing them of 'retaliation and censorship'Tesla's chief executive Elon Musk shot back against US financial regulators on Monday, arguing that his recent tweet about his company's production numbers did not violate a previous fraud settlement and that he cannot be held in contempt. Lawyers for Mr Musk said that his "single, immaterial" tweet to more than 24 million Twitter followers, claiming that Tesla would produce around 500,000 electric cars in 2019, complied with the communications policy his company has been forced to adopt.  The US Securities and Exchange Commission (SEC) had asked a court in New York City to hold Musk in contempt, saying his tweet in February violated a fraud settlement from September which barred him from sharing material information about Tesla on social media without the company's pre-approval. Bur Mr Musk's lawyers argued in a court filing that the SEC was exceeding its power in attempting to hold him in contempt, saying its action “smacks of retaliation and censorship”. "This contempt action, following Musk's sincerely-held criticism of the SEC on 60 Minutes [a US TV show], also reflects concerning and unprecedented overreach on the part of the SEC," the filing said. In December, Musk said in an interview with the US news programme 60 Minutes that: "I do not have respect for the SEC." The settlement between Musk, Tesla and the SEC resolved an SEC lawsuit over claims Mr Musk made on Twitter in August that he had "funding secured" to take Tesla private at $ 420 per share. The SEC called those tweets "false and misleading", and a deal never materialized. As part of that settlement, Musk stepped down as the company's chairman and he and Tesla agreed to pay $ 20m each (£15m) in fines. The renewed public battle between Tesla's chief executive and the top US securities regulator adds pressure on Mr Musk, the public face of Tesla, who is struggling to make the company profitable after cutting the price of its Model 3 sedan to $ 35,000. Tesla has backed off a plan to close all its US stores and said it will instead raise prices of its higher-end vehicles by about 3 percent on average. In the filing, Mr Musk's lawyers said his tweet was a "proud and optimistic restatement of publicly disclosed information." Mr Musk corrected his tweet four hours later to say that the "annualized production rate" at year-end 2019 would probably be about 500,000, with deliveries expected to be about 400,000. Moreover, Mr Musk has exhibited self-censorship in dramatically reducing the volume of tweets since the settlement, they wrote, adding that the SEC's request, if granted, would raise free speech issues. "This self-censorship is reflective of his commitment to adhering to the Order and avoiding unnecessary disputes with the SEC," they wrote in the filing. Mr Musk called the regulator the "Shortseller Enrichment Commission" on Twitter after the settlement, and tweeted that "something is broken with SEC oversight" just one day after the agency started pursuing the contempt order. Legal experts have said the SEC could now pursue multiple avenues, including a higher fine, imposing further restrictions on Mr Musk's activities or removing him from Tesla's board or helm. Tesla published a new communications policy in December for senior executives as part of the settlement. It called for Tesla's general counsel and a newly designated in-house securities law attorney to pre-approve any written statements about Tesla that could be material. A disclosure controls committee, made up of board members Brad Buss, Antonio Gracias and James Murdoch, was tasked with overseeing compliance with the new policy.



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Employee being fired fatally shoots 5 co-workers with 'laser-sighted pistol' in Illinois

Employee being fired fatally shoots 5 co-workers with 'laser-sighted pistol' in IllinoisA 15-year employee being fired from a suburban Chicago manufacturing company opened fire with a laser-sighted pistol on Friday, killing five co-workers and wounding five police officers before he was killed by police, authorities said. Aurora, Illinois, Police Chief Kristen Ziman said 45-year-old Gary Martin "was being terminated" before he started shooting at the Henry Pratt Co. – which makes valves for industrial purposes – in the city about 40 miles west of Chicago. She told a news conference that in addition to the five employees killed, a sixth worker was taken to a hospital with injuries that were not life threatening. A sixth police officer suffered a knee injury while officers were searching the building. Ziman said officers arrived within four minutes of receiving reports of the shooting and were fired upon as soon as they entered the 29,000-square-foot manufacturing warehouse. Police said they did not know the gunman's motive. John Probst, a worker who was in the factory, said the gunman had arrived for his regular shift, working in assembly, and opened fire several hours later. Mr Probst told local television: "I saw a gunman running down the aisle with a pistol, I recognised him as a co-worker and he was shooting everybody. "As soon as we heard shots, as soon as I saw the green laser thing, we took off out the back door." Mr Probst said the plant was "huge" and the man worked about 80 yards from him. First responders and emergency vehicles are gathered near the scene of a shooting at an industrial park in Aurora Credit: Bev Horne/ Daily Herald Before the shooting the gunman walked past him and went upstairs to the office, he said. Aurora, a city of 200,000 people, is 40 miles west of Chicago. In a statement Sarah Sanders, the White House press secretary, said: "The President has been briefed and is monitoring the ongoing situation in Aurora,



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US officer at border shoots driver going to Mexico

US officer at border shoots driver going to MexicoNOGALES, Ariz. (AP) — A Customs and Border Protection officer shot and wounded a driver who was trying to enter Mexico at a crossing in Arizona, the agency said Friday.



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Chicago Woman with Concealed Carry License Shoots, Kills Would-Be Robber: Police

Chicago Woman with Concealed Carry License Shoots, Kills Would-Be Robber: PoliceA 25-year-old Chicago woman with a concealed carry license shot and killed a man who tried to rob her.



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Woman with concealed carry license fatally shoots attempted robber: police

Woman with concealed carry license fatally shoots attempted robber: policeAuthorities in Illinois say a woman with a concealed carry license fatally



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Missouri man fatally shoots girlfriend, her kids, her mother

Missouri man fatally shoots girlfriend, her kids, her motherA St. Louis-area man shot to death his girlfriend, her two young children and her mother in the home they all shared, authorities said Saturday. He exchanged gunfire with officers as he fled and was captured several hours later in a convenience store, covered in blood and wounded.



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Bali volcano shoots new burst of ash; flights unaffected

Bali volcano shoots new burst of ash; flights unaffectedDENPASAR, Indonesia (AP) — A volcano on Indonesia's tourist island of Bali shot a new burst of hot ash into the air early Sunday in the latest of the country's several eruptions within a week.



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Woman with concealed carry permit fatally shoots escaped inmate who broke into her home

Woman with concealed carry permit fatally shoots escaped inmate who broke into her homeAuthorities in South Carolina say a woman with a concealed carry permit



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GM Stock Price Shoots Up On Announcement Of Thousands Of Job Cuts

GM Stock Price Shoots Up On Announcement Of Thousands Of Job CutsThe news out of Detroit Monday offered a stark reminder that the fortunes of



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Butler High School Classes Resume Hours After Student Shoots Classmate To Death

Butler High School Classes Resume Hours After Student Shoots Classmate To DeathA high school in Matthews, North Carolina, resumed classes on Monday just



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