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Elon Musk Mocks SEC On Twitter Days After Settlement Deal

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Elon Musk Mocks SEC On Twitter Days After Settlement Deal

Tesla, Inc. (NASDAQ: TSLA) CEO Elon Musk once again presented with symptoms of foot-in-mouth disease Thursday. 

Musk stirred up Twitter, Inc. (NYSE: TWTR) after the market close with a jab at the regulatory agency he struck a settlement deal with less than a week ago.

About 45 minutes later, Musk replied to Twitter user Robert Scoble, who said:

"Hey @elonmusk you need a social team that can get attention without typos and without enraging the Shortseller Enrichment Committee. While you are at it, can you tell me what you see in these bubbles on my @Tesla Glass? Your dreams are so crazy. Focus on those." 

Tweet Comes As Judge Considers SEC Deal 

After the tweet, which is presumably a play on the Securities and Exchange Commission's name, Tesla shares fell more than 2 percent in after-hours trading.

Tesla had not responded to a request for comment from Benzinga at the time of publication. 

CNBC said in a tweet that the SEC declined comment on Musk's tweet. 

The tweet comes SEC filed a fraud lawsuit against Musk Sept. 27, accusing him of misleading investors with his infamous Aug. 7 tweet that he had "funding secured" to take Tesla private at $420 per share.

The parties reached a settlement deal Saturday that fines Musk and Tesla $20 million each; has him step down as chairman for at least three years; establish a new committee of independent directors; and establish controls and procedures for Musk's communications. 

U.S. District Judge Alison Nathan requested more information from the SEC and Tesla in the case Thursday to determine whether the settlement is "fair and reasonable, with the additional requirement that the public interest not be disserved."

Nathan gave the parties one week to submit a joint letter explaining the settlement in further detail. 

Related Links:

The Street Weighs In On Musk's SEC Settlement As Tesla Shares Rip Higher

Cramer: The SEC Just Gave Tesla Shareholders A Helping Hand

Photo by NASA via Wikimedia.

Posted-In: Elon MuskNews Top Stories SEC Best of Benzinga

 

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