Tuesday, 11 December, 2018

Elon Musk mocks SEC just days after Tesla settlement

Tesla Owners Can Have Images Sent to Deep Space New photos of Tesla’s next-gen Roadster surface online
Laurie Berry | 05 October, 2018, 17:26

But in a tweet late on Thursday, Mr Musk described the SEC as the "Shortseller Enrichment Commission", saying it was doing "incredible work". "And the name change is so on point!"

The settlement also required Tesla's board to implement procedures for reviewing Musk's communications with investors, which include tweets.

The lack of support from investors eventually led to his "grudging approval" to reach a settlement with the SEC.

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. (FOX), to replace Elon Musk as the company's chairman, people familiar with the matter told The New York Times.

As a result, the SEC reportedly increased Musk's fine from $10 (£7.7 / €8.7) million to $20 (£15.4 / €17.4) million.

BlackRock declined to comment on Musk's tweet.

The Tesla boss dislike of short-sellers is well-known: He once called them "jerks who want us to die".

Russian Federation completes delivery of S-300 missile system to Syria
The remains of a Syrian ammunition warehouse which was destroyed in an Israeli airstrike on a base in Latakia, September 18, 2018. In Washington, State Department spokesperson Heather Nauert could not confirm reports that the S-300 had been delivered .

Tesla stock dropped 2 percent in after-hours trading after Thursday's tweet.

In June, Musk wrote that shorts "have about three weeks before their short position explodes"-presumably a prediction that Tesla's strong quarterly results would cause Tesla's stock to rise".

Nevertheless, Musk doubled down on Thursday after getting questioned by another Twitter user about the tweet.

The website description says they want to help Musk with this "preposterous" SEC filing against him.

"At the very the least, they can read the riot act to Musk's lawyer", said Stephen Crimmins, a former SEC enforcement lawyer who's now a partner at Murphy & McGovern.

Musk has kept up his cryptic ways this week, tweeting out a music video by rap group Naughty by Nature for their 1991 hit song "O.P.P".

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.

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