Tesla chief Elon Musk on Thursday taunted federal regulators a few days after reaching a settlement with them over accusations of fraud, alleging the regulators who sued him last week had done so to help his enemies.
Musk also dragged BlackRock Inc. into his long-running dispute with short sellers, claiming that the fund manager was reaping heavy profits by lending shares they hold to this group of investors.
A little more than an hour after his initial tweet about the SEC on Thursday, one follower wrote to Musk that he seemed to be working against Tesla investors.
Over the weekend, Musk reached an agreement with the SEC to settle charges stemming from the now-infamous August 7 tweet about having "funding secured" to take the company private.
Amid controversies over his appearance on "Saturday Night Live" and comments about slavery, musician Kanye West visited Detroit, where he commented about Elon Musk. Shares have been holding in that range as investors are likely waiting to see who will helm the board of directors in Musk's absence - a key part in his $20 million settlement with the SEC.
"Months later, shareholders, creditors, employees and the global economy paid a big price when management's reckless behavior led to bankruptcy", Einhorn said.More news: Jose Mourinho sends message to Man United supporters ahead of Valencia clash
But the settlement still needs court approval. 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.
U.S. District Judge Alison Nathan in Manhattan said her regular practice is to have parties submit a joint letter, in this case by October 11, to show why their settlement was fair and reasonable and would not hurt the public interest.
The SEC declined to comment about the latest tweet, and a spokesperson for Tesla was not immediately available for comment.
The tweets come days after Musk agreed to relinquish his Tesla chairmanship for at least three years and pay a $20 million fine. "It also bolsters the SEC argument that the motive for the false and misleading tweets about taking the company private was to thwart the short sellers".
Elon Musk is photographed in NY. a year ago.
"I don't think the SEC would look at this as a denial of the facts alleged", said Peter Henning, a law professor at Wayne State University in Detroit.