Tesla's Musk appears to mock US SEC on Twitter after settlement

Tesla's Musk appears to mock US SEC on Twitter after settlement

The tweet calling the SEC the "Shortseller Enrichment Commission" came just hours after a federal judge ordered Musk and the SEC to write a letter justifying a settlement which allows him to remain in charge at Tesla.

"Just want [say] to that the Shortseller Enrichment Commission is doing incredible work", Musk tweeted, likewise taking a jab at investors who have shorted Tesla shares. "And the name change is so on point!"

Tesla and the SEC declined requests for comment.

Last week Mr Musk agreed to settle SEC charges that he misled the stock market and harmed investors by tweeting that he had "funding secured" to take Tesla private.

The agency accused Musk in its September 27 complaint of misleading investors with his infamous August 7 tweets about having the investor support and "funding secured" to take Tesla private.

Some Tesla directors have proposed that James Murdoch, fellow board member at the electric carmaker and chief executive officer of Twenty-First Century Fox, succeed Elon Musk as its chairman.

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Tesla was not charged with fraud.

The SEC declined to comment on the tweet.

Tesla shares, which fell more than 4 percent Thursday, retreated another 2 percent in after-hours trading.

West has tweeted several times about the need for "innovation" and new technology, and in 2011, he went to visit the SpaceX rocket factory with Musk.

But Musk and Tesla might not even be out of the woods yet.

One of the terms of the settlement was that Musk would not take any action or make any public statement denying any SEC allegations or "creating the impression that the complaint is without factual basis". However, the government was annoyed with Musk's decision to bail on the original agreement so they doubled down on the conditions for the new settlement. However, at the last minute, Musk's lawyer reportedly called the SEC and told them that his client was no longer interested in settling. But according to Recode's Teddy Schleifer, that requirement doesn't kick in for 90 days after signing, giving Musk a few more weeks of unfettered tweeting.

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