Elon Musk mocks U.S. agency just days after settling with it
05 October, 2018, 09:41 | Author: Dominic Spencer
Nevertheless, Musk doubled down on Thursday after getting questioned by another Twitter user about the tweet.
"Just want to that the Shortseller Enrichment Commission is doing incredible work", Musk, a frequent critic of investors betting against the electric vehicle company, wrote on Twitter.
The SEC declined to comment on the tweet.
Late in the afternoon, Musk seemed to mock the SEC in another tweet, calling it the "Shortseller Enrichment Commission".
Those tweets claimed that Musk had "funding secured" to take Teslaprivate at $420 a share, sending the company's stock briefly soaring and forcing a halt in trading. Under its terms, Musk doesn't admit or deny the allegations in the agency's lawsuit but will step down as the chairman of Tesla's board of directors for three years and pay a $US20 million fine.
The SEC has so far declined to comment on either of Musk's tweets.
Musk's sarcastic tweet could cause Nathan to reject the settlement if it gives her reason to believe that he "has no intention or ability to change his conduct", said Erik Gordon, a business professor at the University of MI.
The agreement also called for two new independent directors to join Tesla's board.
As part of Musk's settlement with the SEC, Tesla is supposed to monitor its CEO's Twitter posts, but only those that have to do with company news.
The 2nd Circuit has jurisdiction over Nathan's court, and Pritchard said the Citigroup decision likely foreshadows approval of Musk's settlement.
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