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In an order on Friday, the judge gave both sides until April 18 to reach a resolution. If they do not, the judge said she would decide whether to hold Musk in contempt. If he is held in contempt, the judge will allow the parties to weigh in on possible sanctions. The case has high stakes for Tesla. When the SEC initially sued Musk in September, it had asked for his removal. The two sides settled in October, with Musk agreeing to step down as Tesla’s chairman. The agreement also called for pre-approval of Musk’s written communications that could be material to the company.
At a court hearing on Thursday, the SEC suggested that greater oversight of Musk’s communications, including the threat of new fines if he backslides, would be an adequate remedy, “This was a warning, I don’t think he gets a selfridges cufflinks second warning,” said Marc Leaf, a former SEC lawyer in New York, In a statement on Thursday, Musk stood by his actions, “I have great respect for Judge Nathan, and I’m pleased with her decision today, The tweet in question was true, immaterial to shareholders, and in no way a violation of my agreement,” he said in the statement released by Tesla..
The October settlement resolved a lawsuit over a tweet last Aug. 7 in which Musk said he had “funding secured” to take Tesla private at $420 per share. The Feb. 19 tweet said: “Tesla made 0 cars in 2011, but will make around 500k in 2019,” meaning 500,000 vehicles. Four hours later Musk corrected himself, saying annualized production would be “probably around” 500,000 by year end, with full-year deliveries totaling about 400,000. The SEC said the first of the Feb. 19 tweets conflicted with Tesla’s Jan. 30 outlook, when it targeted annualized Model 3 production exceeding 500,000 as soon as the fourth quarter, and projected 360,000 to 400,000 vehicle deliveries this year.
At the time the SEC also said that Musk had violated their agreement by sending a tweet that had not been vetted by Tesla’s lawyers and he should be held in contempt, It did not say what penalties it wanted imposed, raising the question of whether it would again seek his removal or propose lesser measures, Musk’s lawyers countered that the first Feb, selfridges cufflinks 19 tweet contained nothing new, and that the SEC had conceded during settlement talks that Musk did not need pre-approval for all tweets about Tesla..
(Reuters) - Bank of America Corp said on Friday that more than half of its branch network will be modernized over the next three years to respond to changing consumer behavior. The second largest U.S. bank by assets will renovate 2,500 retail financial services centers with more interactive technology and a layout that accommodates longer visits for customers who have more complex needs. “We have been very encouraged by the initial results of our center redesigns and expansions,” Aron Levine, head of Consumer Banking & Investments for Bank of America told Reuters. “This work has enabled us to have more in-depth conversations with our clients about their financial plans and priorities.”.
The announcement accelerates plans put in place last year to redesign 1,500 centers, Bank of America also said it planned to upgrade its network of 16,000 ATMs to allow customers to pay credit card bills and withdraw cash with their phones, and install an additional 2,700 machines, By 2021, Bank of America’s branch and ATM network will cover more than 90 percent of the U.S, population, said David Tyrie, head of consumer advanced solutions and digital banking, The selfridges cufflinks percentage of customers who prefer to make their transactions in brick and mortar banks fell to 26 percent from 38 percent in 2016, according to a study published this year by consulting firm McKinsey, However, the firm found that banks that closed a significant number of branches must rely more heavily on advertising to win market share..
For many years banks have been paring back their branch networks due to dwindling foot traffic as more and more people opt to handle routine transactions online. But over the past year some banks have announced plans to expand again. Charlotte, North Carolina-based Bank of America said on Friday that it will expand its retail banking presence in two new markets, Cleveland and Lexington, Kentucky, next year as part of a previously announced pledge to add 500 branches. The expansion is expected to add up to 5,500 jobs in local markets, the bank said Friday.
Last year, JPMorgan Chase & Co, the largest selfridges cufflinks U.S, bank by assets, started adding bank branches in new cities for the first time in nearly a decade, The bank, which has roughly 5,000 branches nationwide, said it would open locations in new cities and markets such as Boston, Washington, D.C., and Pittsburgh, By 2022, 93 percent of the U.S, population will be in JPMorgan’s “Chase footprint,” Chief Executive Jamie Dimon said in his 2019 annual letter to shareholders, Bank of America has about 4,300 branches, according to its most recent filing, down more than 1,000 from its peak..