[ad_1]
Elon Musk can not say he did something wrong, but he can let you know what he thinks of the Securities and Exchange Commission.
Less than a week after reaching an agreement with the federal regulators who sued him for misleading investors, Mr Musk, Tesla's chief executive, called the agency "Shortseller Enrichment Commission "in a message posted Thursday on Twitter.
The post featured two of Mr. Musk's most remarkable foils.
He frequently criticized the so-called short sellers who bet against Tesla. And the terms of the agreement with the commission prevent it from saying that it has done nothing wrong in its communications with investors.
Settlement provisions also include: Tesla to establish a committee to review Mr. Musk's investor communications, including his publications on Twitter and other social media.
"Mr. Musk has excellent lawyers," said Marc Leaf, a partner at Drinker Biddle & Reath in New York, who previously worked for the SEC as a commissioner advisor. "He should listen to them . "
The position was published on the same day as Judge Alison J. Nathan of the Federal District Court in Manhattan asked SEC and the lawyers for Mr. Musk and Tesla to submit in writing no later than next Thursday the reasons why the regulation should be approved. His order indicated that it was his standard procedure for evaluating an agreement.
A spokesman for Tesla said the company had no comments to make on the tweet. The second. refused to comment.
This is a Twitter message that opened the way for Mr. Musk to a settlement with the commission. In August, he tweeted that he was considering privatizing Tesla at $ 420 per share. "Financing assured," he wrote.
But the SO concluded that Mr. Musk had exaggerated the case and sued him, accusing him of securities fraud. After initially being removed from an agreement to resolve the claims, he reached a settlement on Saturday that will require him to step down as president for three years and pay a fine of $ 20 million. dollars. The settlement also requires Tesla to add two independent directors to its board.
[[[[Read more about the agreement with the S.E.C. and what led to it.]
Over the weekend, when Mr. Musk sent an email to employees to inform him of Tesla's profitability, the company filed this statement with the S.E.C. to avoid any regulatory issues.
Mr. Musk has been relatively silent on Twitter since the settlement. On Monday, he tweeted a link to a Naughty by Nature music video with a flashing emoji. Just before his shot against the commission and short sellers on Thursday, he responded to a tweet from Business Insider that had given a positive review to the Tesla Model 3 sedan.
"Great verdict," he wrote.
Source link
