Elon Musk Tweet Appears to Mock the Securities and Exchange Commission

Elon Musk Tweet Appears to Mock the Securities and Exchange Commission

"Just want to (sic) that the Shortseller Enrichment Commission is doing incredible work".

The SEC has responded by denying any plans for a name change, but won't be drawn on the content of the Tweet.

Tesla and the SEC declined requests for comment.

The SEC declined to comment on Musk's tweet.

Lawyers said prior to Musk's latest tweet that his settlement would probably win approval, though orders such as Nathan's are not particularly common.

"Elon, please stop", said another.

Musk and the SEC have been given a week to submit a joint letter to explain why the deal should be cleared. "That was unforgivable", he said. "Why would they be upset about their mission?" The hedge fund said Musk has been deceptive and the carmaker's woes resemble those of Lehman Brothers before its collapse.

After initially refusing an offer to settle the case, Mr Musk backed down, agreeing that he and his company would each pay a $20m fine, he would step down as Tesla's chairman (but remain chief executive), and that he would allow oversight of his communications about company news.

A little more than an hour after his initial tweet about the SEC on Thursday, one follower wrote to Musk that he seemed to be working against Tesla investors.

The SEC in its lawsuit accused Musk of making "false and misleading statements" in August about the possibility of taking Tesla private.

It's thought that both sides will argue that removing Musk will damage the company's stock, which already dropped 2 per cent after the Tweet.

The settlement last Saturday was meant to resolve charges that Musk misled investors in tweets on 7 August, including that there was "funding secured" to take his Palo Alto, California-based company private at $420 per share.

FILE PHOTO: A newly installed vehicle charger at a Tesla Super Charging station is shown in Carlsbad, California, U.S. September 14, 2018.

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