“Just want to that the Shortseller Enrichment Commission is doing incredible work,” Musk, a frequent critic of investors betting against the electric car company, wrote on Twitter. “And the name change is so on point!“
The settlement last Saturday was intended to resolve charges that Musk misled investors in tweets on7 August, including that there was “funding secured” to take his
Musk agreed to pay a $20m fine and step aside as Tesla’s chairman for three years.
Musk’s latest tweet came less than four hours after the US district judge Alison Nathan in
The judge said it was her regular practice to request such letters.
Nathan “may want to know why
Lawyers said prior to Musk’s latest tweet that his settlement would probably win approval, though orders such as Nathan’s are not particularly common.
“In and of itself it’s not an ominous sign,” said Jordan Thomas, a partner at
Musk’s barb at the SEC didn’t violate the settlement because he didn’t explicitly criticize as it as being unfair or unwarranted, said Peter Henning, a Wayne State law professor who was formerly an SEC attorney.
As part of Musk’s settlement with the SEC,
“Someone has to get a hold of his Twitter account and stop him,” Henning said.