Elon Musk mocks SEC just days after Tesla settlement

07 October, 2018, 17:39 | Author: Sally Reid
  • Tesla Directors Propose James Murdoch To Succeed Musk As Chairman Report

"Elon Musk's erratic behavior suggests that he sees it the same way".

West made the comments Tuesday as he checked out student projects at the Detroit College for Creative Studies, a private art school.

The New York Times also said Musk had threatened to resign, in a phone call with directors, if the board insisted that he and the company enter into a settlement with the Securities and Exchange Commission (SEC).

According to an account by the Detroit Free Press, West had a busy day in the Motor City, which he documented on social media.

Musk tweeted on Thursday:"Just want to that the Shortseller Enrichment Commission is doing incredible work".

But the deal didn't prevent the free-wheeling Musk from continuing to speak out about other subjects - a liberty he took advantage of to bash the SEC today in a tweet that indicated he is still stewing about the allegations filed against him.

Judge Alison Nathan said it was a regular practice at the Southern District of New York Court to have the parties submit a joint letter explaining why the court should approve a proposed consent judgment. "And the name change is so on point!" The hedge fund said Musk has been deceptive and the carmaker's woes resemble those of Lehman Brothers before its collapse.

South Koreans Visiting Pyongyang For Summit Anniversary
That left Seoul lobbying hard for a second summit between Trump and Kim to keep alive a positive atmosphere for nuclear diplomacy. Ironically, such a settlement can succeed only if the Trump administration's North Korea policy keeps failing.

The settlement agreements Musk and Tesla reached with the Securities and Exchange Commission don't include any kind of bar on Musk's continued service as a director of the auto company. The SEC declined to comment.

Tesla said in its 3Q vehicle safety report that "we've registered one accident or crash-like event for every 3.34 million miles driven in which drivers had Autopilot engaged".

The tweet also stoked Musk's long-running feud with short sellers, a category of investors that have been betting on Tesla's stock to fall. After Musk initially rejected a settlement offer from the agency, which the SEC responded to by suing him, Tesla and its CEO accepted revised settlement agreements that are somewhat harsher. Its shares were down 7 percent at $262.05 in late afternoon trading.

Teresa Goody, a former SEC attorney and CEO of The Goody Group, said Musk's "contempt for the SEC is sending a message that he has no regard for the securities laws that are meant to protect investors and ensure a fair and efficient marketplace".

But the settlement still needs court approval.

"Elon, please stop", said another.

However, it later came to light that Musk had not shared this information with even the board of directors, and that the "secured" funding, was actually nowhere in sight.

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