On October 5, Beijing time, shortly after the settlement of the securities fraud case, Tesla CEO Mask mocked the SEC in a tweet Thursday, calling it the Shortseller Enrichment Commission.
"I just want to say that the fat shorts committee is doing incredible work," Musk said on Twitter. The name change is so appropriate! "
After tweet was released, Tesla shares fell nearly 3% after the market.
Late last week, Musk reached an agreement with the Securities and Exchange Commission to resolve fraud charges related to the August 7 tweet to privatize the company. Musk then claimed that the necessary funds had been secured - a statement the SEC alleged was "wrong and misleading".
Earlier Thursday, the judge asked Tesla and the SEC to submit a joint letter by October 11 explaining why the court should approve the settlement. The judge said it is a common practice for the court to let the two sides agree to submit an explanation letter.
At midday on Thursday, Fox News reporter Gasparino tweeted that the SEC was still investigating Tesla on a potential false statement of output / profit targets.
The focus of the investigation is Tesla's Model 3 production and profit targets. Sources at the SEC said the case would make it more troublesome for Bismarck to publish a tweet that guarantees a secure source of funds for Tesla's privatization.
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