Elon Musk mocks SEC just days after Tesla settlement - Roadshow

Wil James Murdoch be the new Chairman of Tesla?

'Just want to [say] that the Shortseller Enrichment Commission is doing incredible work. "And the name change is so on point!" he said, missing at least a word in the phrase. Ryan White, an SEC spokesman, declined to comment.

The SEC filed a lawsuit on September 27 charging fraud and seeking to bar Musk from serving as an executive at any public company.

"I have lost 30 years of my life savings all in $tsla thanks to your tweets please stop", TrendTrader007 wrote. "There's no real upside".

Murdoch, who owns roughly 10,000 shares of Tesla worth about $US3.03 million at Wednesday's price, also serves on the boards of Sky, TrueX Media, 21st Century Fox, New Corp, and Yankee Global Enterprises, as well as a handful of arts organisations, according to Bloomberg data.

On Saturday, Elon Musk settled a lawsuit from the Securities and Exchange Commission claiming that he had violated federal securities laws by tweeting that he had "funding secured" to take Tesla private.

Additionally, Judge Alison Nathan who is handling the case has asked for a joint submission explaining why she should approve the deal, so poking the lion's cage at this stage isn't the brightest.

Because, as you all know, the price of a Tesla stock is said to include a sizeable Musk-premium, a value added to the price only because Musk, the pioneer that he is, is behind the project. Musk described the diver as a pedophile in a tweet that has since been deleted.

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Think you might need to download Grammarly for the future there Elon...

He has used Twitter to criticize short-sellers betting against his company. "Index managers like Blackrock pocket make excessive profit from short lending while pretending to charge low rates for "passive" index tracking".

The SEC charged Musk with misleading investors with the tweet, saying it had no basis in fact.

The SEC did not comment on Mr Musk's tweets, nor did Tesla.

That means that despite being forced to step down as chairman as part of those agreements, Musk could continue to have a lot of sway over the body that is supposed to oversee him as CEO. But Dubow said he would be surprised if the judge ultimately rejected the proposed settlement.

The 2nd Circuit has jurisdiction over Nathan's court, and Pritchard said the Citigroup decision likely foreshadows approval of Musk's settlement.

That arrangement is unusual, says Jay Dubow, a partner at Pepper Hamilton and a former branch chief with the SEC's enforcement division.

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