Elon Musk isn’t done with the SEC just yet

Days after announcing a settlement with the SEC that cost ELon Musk $20 million as well as a his chairman spot being revoked from the company board, Elon Musk is back again on Twitter going after the SEC.

Musk tweeted “Just want to (say) that the Shortseller Enrichment Commission is doing incredible work. And the name is so on point!” He is definitely not happy with how things have progressed with the SEC. To remind everyone, the Securities and Exchange Commission went after Musk and accused him of “false misleading public statements and omissions” because he tweeted about having “funding secured” to take Tesla private.

He seems to be going after the SEC, again. Could this pose more problems for him in the future? At this point, it's anyone's guess. It's worth mentioning that as a part of Musk's settlement, “Tesla will establish a new committee of independent directors and put in place additional controls and procedures to oversee Musk's communications.”

While the SEC and Musk have reached settlement, it's not a done deal yet because it has to be approved by a federal judge, per Wall Street Journal's report.

CategoriesBusiness Tesla
Hamza Khalid

The Jolt Journal is your source for daily tech news, breaking, reviews, and insights.

Leave a Reply