KXIP vs KKR Live Score

Tesla CEO Elon Musk broke his Twitter silence about his deal with the US Securities and Exchange Commission on Thursday, dubbing the regulatory agency the "Shortseller Enrichment Commission".

In a tweet, Musk appears to be mocking the U.S. agency by saying, "Just want to that the Shortseller Enrichment Commission is doing incredible work. And the name change is so on point!" he said on Twitter.

Musk has long waged a rhetorical war against shortsellers-investors who borrow shares of Tesla in order to profit if the price drops.

The tweet appeared to jar investors, who drove Tesla shares down 2.4 percent in after-hours trading to $275.

Over the weekend, Musk reached an agreement with the SEC to settle charges stemming from the now-infamous August 7 tweet about having "funding secured" to take the company private. The deal settled charges that Musk made false and misleading statements about having secured the funding to take Tesla private.

More: Elon Musk is down with OPP - but what does it mean?

The SEC had sought to remove Mr Musk from...

Amy Schumer, Emily Ratajkowski Arrested in Kavanaugh Protest
The two famous ladies weren't the only ones to be arrested, they were among 300 other protestors who also got detained. Kavanaugh, for his part, flatly denies the allegation, and he has the backing of Trump and dozens of GOP senators.

Ohio Dairy Farmers Celebrate New Trade Deal
The revamped free trade deal was nearly 14 months in the making and has 32 chapters, 11 annexes and 12 side letters. Even the National Farmers Union , which tends to be critical of most trade deals, called the agreement encouraging.

Amazon announces $50 4K-capable Fire TV Stick
With the Alexa Voice Remote , you can tap into the in-app voice control features on apps including Netflix, Hulu, and Showtime. And as before, you can use Alexa on the remote to search for and launch content, control smart home devices, and more.

But Musk had not secured the funding, the SEC said. The lack of support from investors eventually led to his "grudging approval" to reach a settlement with the SEC. The judge's request for additional evidence suggests Tesla may not be out of the woods just yet. The SEC also hit the billionaire and Tesla each with $20 million fines and is requiring that the board add two new members. Within 45 days, an independent chairman will replace Musk, who will be ineligible for reelection for the next three years.

The judge gave Tesla and the SEC one week to submit a joint letter explaining the settlement in further detail. However, the government was annoyed with Musk's decision to bail on the original agreement so they doubled down on the conditions for the new settlement.

U.S. District Judge Alison Nathan today ordered the SEC, Musk and Tesla to filed documents by October 11 explaining why the agreement is "fair and reasonable".

Later, he re-posted a tweet he had written in 2012, saying: "That said, even though they cause me grief, I would defend the right of shorts to exist".

He compared several of CEO Elon Musk's recent actions to Lehman's threats toward short sellers and refusals to raise capital.

The fallout of the tweet led to Musk settling fraud charges with the agency last weekend, stepping down as chairman of the Tesla board and he and the company each paying a $20 million fine.


COMMENTS