Elon Musk slams SEC as United States judge demands explanation for fraud settlement

Tesla chief executive Elon Musk stands on the podium as he attends a forum on startups in Hong Kong China

Wil James Murdoch be the new Chairman of Tesla?

Elon Musk has posted a tweet about the "Shortseller Enrichment Commission" doing incredible work. "And the name change is so on point!" he said, missing at least a word in the phrase.

His distaste for short sellers was viewed as a key reason why he briefly proposed taking Tesla private - a short-lived plan that he revealed on Twitter despite, the SEC said, not having lined up the funding he claimed to have gotten for the deal.

The SEC's complaint was sent out last week and suggests Musk tweeted the take-private proposal, in part, to lift the stock of the company and therefore publish the short sellers.

Tesla shares declined 2 percent in extended trading after Musk's tweet.

Boris Johnson's Brexit proposals dismissed as 'fantasy world' by Chancellor
The profiles of former foreign secretary Mr Johnson and Environment Secretary Michael Gove were among those reportedly accessed. The uncertainty has led to business concerns that there will be no deal, potentially leading to tariffs and border delays.

While this is not the first time that Musk tweeted a music video whose lyrics are clearly not related to his business dealings, avid Twitter followers of the Tesla CEO speculated that Monday's cryptic message was a veiled reference to "operating profit positive".

In addition to Tesla, Musk is also CEO of SpaceX, The Boring Company, and Neuralink. A former SEC enforcement lawyer told Bloomberg the SEC "can theoretically seek to pull the settlement" if they feel Musk isn't complying with the agreed-upon settlement, which included orders for Tesla to implement controls over Musk's communications. "This hurts shareholders worse than the SEC". "The vast majority of settlements like this are approved by courts". The company's board reportedly hasn't had any serious discussions on who will replace Musk, but some board members have thrown their support behind James Murdoch who is the son of Rupert Murdoch and the CEO of 21st Century Fox.

He said a big problem for Musk is that Tesla would lose too much money targeting a mass audience by selling its Model 3 at a $35,000 starting price, and yet "can't bring himself" to cancel the program and refund customer deposits.

"I think it's the judge being careful", he said.

H&M launches bra collection for breast cancer survivors
All proceeds gathered at Tough Enough to Wear Pink will be donated to the American Cancer Society for its breast cancer programs. Bush said football coaches and players, cheer and pom will all sport pink to call attention to the threat of breast cancer.

The case is SEC v Musk, U.S. District Court, Southern District of New York, No. 18-08865. Under its terms, Musk doesn't admit or deny the allegations in the agency's lawsuit but will step down as the chairman of Tesla's board of directors for three years and pay a $20 million fine.

The tweet calling the SEC the "Shortseller Enrichment Commission" came just hours after a federal judge ordered Musk and the SEC to write a letter justifying a settlement which allows him to remain in charge at Tesla.

The SEC declined to comment Thursday. The settlement was announced on September 29, two days after Musk was charged.

Duke & Duchess of Sussex have made their First Official Visit to Sussex
Harry, handsome as always, stepped out wearing a grey suit , brown shoes and open-necked white shirt. The other is held at the National Archives in Washington DC.

Latest News