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Elon Musk's next move? Teasing the SEC on Twitter

Tesla board oversight of his communications has not yet taken effect.
Richard Lawler, @Rjcc
October 4, 2018
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Just days after announcing a settlement with the SEC that would cost him $20 million and his spot as chairman of the board, this afternoon Elon Musk tweeted "Just want to (say) that the Shortseller Enrichment Commission is doing incredible work. And the name change is so on point!" As a reminder, the Securities and Exchange Commission had accused him of "false and misleading public statements and omissions" based on his tweets about having "funding secured" to make Tesla a private company.

Could this result in any additional problems for the billionaire CEO? It seems doubtful, but one of the parts of his settlement is a promise that "Tesla will establish a new committee of independent directors and put in place additional controls and procedures to oversee Musk's communications." The Wall Street Journal reported that the settlement is not final until it's approved by a federal judge, and Recode reporter Teddy Schleifer said, based on a source, that oversight will not begin for another 80 days or so.

In this article: business, ElonMusk, gear, SEC, Tesla, tweet
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