Jim Cramer's Thoughts on Elon Musk's Court Date

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A federal judge has ordered oral arguments next week in the contempt case brought by the Securities and Exchange Commission against Tesla (TSLA) - Get Report CEO Elon Musk.

Federal Judge Alison Nathan set a hearing in the case for Thursday, April 4.

SEC lawyers moved late last month to have Musk found in contempt of court because Twitter posts the CEO issued about production numbers weren't reviewed by corporate authorities.

Musk previously had agreed to have his tweets about Tesla reviewed as part of a settlement of a securities fraud case with the SEC in September. That deal, which included $20 million fines for Musk and Tesla, came after the CEO tweeted falsely that he had financing to take the electric vehicle compnay private at $420 a share.

In a court filing earlier this month, the SEC called the billionaire's behavior in February "stunning" given the settlement he agreed to last September.

Attorneys for Musk countered that the "SEC's position is wrong at virtually every level," in their own legal filings last week.

Related. Jim Cramer: Elon Musk's Contempt Citation Is Beyond the SEC

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