Published: Wed, October 17, 2018
Tech | By Constance Martin

Musk settlement with SEC over tweets approved by US Judge

Musk settlement with SEC over tweets approved by US Judge

If Tesla does release its branded Tequila, Musk will join a growing list of high profile figures entering the sector.

"The resolution is meant to prevent further market disruption and harm to Tesla's shareholders", Peikin had also added.

Musk said the base version of the Model 3 will being production in early 2019.

Tesla shares jumped more than 4 percent on the news.

Musk agreed to pay a US$20 million (RM82.9 million) fine and step aside as Tesla's chairman for three years to settle charges that could have forced his exit from Tesla.

Musk must comply with procedures set by the committee, including preapproval of "any such written communications that contain, or reasonably could contain, information material" to Tesla or its shareholders. This was in response to Mr. Musk's tweet stating his intention of taking the company private due to availability of secured funding.

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The settlement was approved by a USA judge on Tuesday.

The SEC filed charges against Musk on September 27, just hours after reports said Musk had rejected an initial settlement offer from the agency.

Within days of the settlement, Musk shot off a tweet referring to the SEC as the "Shortseller Enrichment Commission" and sarcastically praising the regulator's work. Today Elon followed up that April 1st tweet with a visual approximation of what the bottle of booze may look like, along with a warning, "Teslaquila coming soon..."

James Murdoch is said to be a forerunner for the Chairmanship of Tesla, if reports from Financial Times are to be believed.

Then someone called him "weeblon musk", as an amalgamation of Musk's name and the word weeaboo, which is a situationally derogatory slang term for a Western person who is obsessed with Japanese culture. Tesla has until November 13 to appoint an independent chairman.

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