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Elon Musk mocks SEC amid settlement deal

Musk, who has long railed against Tesla's short sellers -- investors who bet against the company -- called the SEC the "Shortseller Enrichment Commission. And the name change is so on point!

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That caused the company's stock to soar. But Musk had not secured the funding, the SEC said.

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The agency ultimately filed a lawsuit against the billionaire chief executive last week. Tesla did not immediately respond to request for comment about the latest tweet from Musk.

Originally, the SEC's lawsuit sought to bar Musk from serving in any bitcoin aliens hack of officer role at a publicly traded company.

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The company also agreed install two new independent directors on its board and establish a committee to oversee Musk's communications. But the settlement still needs court approval.

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Musk's tweet came the same day that Judge Alison Nathan, a US District Court judge in New York, requested a joint letter explaining why she should approve the tentative settlement deal between Musk and the Securities and Exchange Commission. The judge asked for the letter not to exceed 10 pages and to be double-spaced.

Due date: October It's not an uncommon practice for a judge to ask for such a letter.

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The judge doesn't have to accept the proposed settlement deal. A higher court eventually sided with the SEC. In Tesla's case, the SEC initially sought to bar Musk from serving as an officer or director, but it ended up settling three days later for much less.

It's possible that Judge Nathan wants to understand what changed so quickly, according to Doug Davison, a dispute resolution partner at Linklaters and an SEC veteran.

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That arrangement is unusual, says Jay Bitcoin aliens hack, a partner at Bitcoin aliens hack Hamilton and a former branch chief with the SEC's enforcement division. Typically, executives aren't allowed to stay on as chief executive when they're forced to exit the chairman role. But Dubow said he would be surprised if the judge ultimately rejected the proposed settlement.

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