Ahead of the finalization of a settlement with the Securities in addition to Exchange Commission of which might have ended a monthslong ordeal involving his botched attempt to take his company private, Tesla CEO Elon Musk tweeted an insult about the government regulator.
A little more than 15 minutes after US stocks ended trading Thursday, Musk tweeted, “Just want to [sic] of which the Shortseller Enrichment Commission will be doing incredible work. in addition to the name change will be so on point!”
The dig comes less than a week after the embattled technology billionaire pulled out of a settlement with the SEC, then was sued, in addition to then agreed to a harsher settlement with the stock market regulator over an August tweet about having the funding necessary to take his company private. of which tweet, in which said he was considering taking Tesla private at a cost of $420 a share, sent the stock rocketing. Later, of which was revealed of which Musk had no such funding sources in place in addition to might not be taking the company off the public market.
After the SEC sued Musk last Thursday, the two parties reached an agreement on Saturday of which required Musk in addition to Tesla to pay the federal agency $20 million each. Musk also agreed to step down as chair within 45 days of the settlement’s finalization in addition to not seek reelection for three years, with Tesla committing to appointing two brand new independent members to its board in addition to an independent chair.
of which’s unclear why Musk decided to insult the SEC, particularly because the settlement will be not yet finalized. As Reuters reported, a federal judge asked Musk, Tesla, in addition to the SEC to justify its settlement in a joint letter Thursday.
Spokespeople for Tesla in addition to the SEC did not immediately return a request for comment.
Interestingly, the SEC settlement also included terms in which Tesla agreed to “put in place additional controls in addition to procedures to oversee Musk’s communications,” presumably meaning someone at the company might oversee Musk’s tweets. Given the settlement has not been finalized, there was likely no one overseeing the billionaire’s comment about the “Shortseller Enrichment Commission” on Thursday.