Elon Musk Twitter swipe at USA markets regulator: 'Shortseller Enrichment Commission'

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Some Tesla directors have proposed that James Murdoch, fellow board member at the electric carmaker and chief executive officer of Twenty-First Century Fox, succeed Elon Musk as its chairman.

The CEO's behavior "remains a wild card", and Tesla's board must now "babysit Musk to make sure he doesn't say anything that could get him or the company in trouble".

In a tweet, Musk appears to be mocking the U.S. agency by saying, "Just want to that the Shortseller Enrichment Commission is doing incredible work".

The founder of Tesla and SpaceX Elon Musk has ridiculed the Commission on securities and stock exchanges of the United States, which he had to pay a fine of $ 20 million.

Musk tweeted August 7 that he had "secured" funding to privatize the electric automaker at $420 a share, causing a brief spike in Tesla's share price.

Tesla did not immediately respond to requests for comment.

Elon Musk can't seem to help himself.

His tweets are seen as a response to SEC's decisions and a federal judge's order to submit a joint letter explaining how the settlement is "fair and reasonable".

Sources with knowledge of the matter tell FOX Business SEC regulators are in a bind - they don't want to punish shareholders of Tesla by coming down on the publicly traded company too hard - but it's painful to countenance Musk's blatant flouting of the rules.

Musk said in a company statement last week that he was "deeply saddened and disappointed" by the lawsuit, which he described as "unjustified". "Granted it has only been three days, but it may have been sensible to ask him not to tweet anything related to the company until they had an opportunity to put in the policies, procedures and controls required by the settlement". He SEC alleged he rounded up the buyout price for Tesla to $420 a share to amuse his girlfriend at the time with a marijuana-culture reference.

At market close, Tesla stocks fell by 4.4 percent at $281.83 and slid by an additional 2.2 percent following the latest tweet by Musk. Critics accused the SEC of "letting him off easy", said David Gelles, also at the Times.

Einhorn said Tesla has "many parallels" to Lehman, which he said "threatened short sellers, refused to raise capital (it even bought back stock), and management publicly suggested it would go private".