New York (CNN Business) Elon Musk is a visionary and enjoys a cult following among many of Tesla's customers. Tesla TSLA The SEC on Monday asked a federal court to find Musk in contempt for violating a settlement agreement reached in October. Musk tweeted last week that Tesla would build 500,000 cars this year. — Elon Musk (@elonmusk) February 20, 2019The regulator didn't specify what penalties it will seek if he is found in contempt, but it had previously sought to remove Musk as CEO. The decision on whether to remove Musk as CEO doesn't rest with the SEC; it would be up to a judge.

Source: CNN February 26, 2019 16:29 UTC