Musk mocks regulator days after settlement

Musk mocks regulator days after settlement


Tesla Motors Inc Chief Govt Elon Musk pauses all over a news conference in Tokyo September eight, 2014.Allege copyright

Elon Musk has mocked a US financial regulator honest days after reaching an settlement with it over fraud costs.

The Tesla boss tweeted the “Shortseller Enrichment Commission”, as he dubbed the Securities and Trade Commission (SEC), changed into as soon as doing “amazing work”.

Final weekend Mr Musk agreed to step down as Tesla Chairman and pay a $20m (£15m) ultimate over tweets that he had funding to expend Tesla non-public.

The deal followed the SEC’s decision to sue him for alleged securities fraud.

The SEC declined to observation on Mr Musk’s latest tweet.

The SEC’s allegation of fraud in opposition to Mr Musk connected to tweets he posted in August in which he stated he changed into as soon as brooding about taking electronic automobile maker Tesla off the stock market and into non-public possession.

He wrote he had “funding secured” for the proposal, which would worth Tesla at $420 per part. Shares in the firm briefly rose after his announcement, however later fell again.

The SEC stated

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