Elon Musk Insults SEC After Settlement, Calls It Shortseller Enrichment Commission


"Just want to [sic] that the Shortseller Enrichment Commission is doing incredible work", wrote Musk, who has frequently blasted investors who bet against the company's share price rising.

Days after settling a securities fraud complaint with the US Securities and Exchange Commission (SEC), entrepreneur and Tesla CEO Elon Musk doesn't appear to have learned when to stop. An agreement he reached with the agency Saturday - which isn't final - would bar him from serving as chairman for three years as punishment for problematic posts he sent about taking Tesla private. In another tweet, Musk also criticized short-sellers, saying, "Short-sellers are value destroyers".

Hedge fund manager David Einhorn lambasted Tesla Inc TSLA.O and its "despondent" Chief Executive Elon Musk on Friday, comparing the electric vehicle company to Lehman Brothers Holdings Inc, where he had flagged accounting problems several months before its 2008 collapse. The SEC also hit the billionaire and Tesla each with $20 million fines and is requiring that the board add two new members.

Musk's latest tweet came after he drew the ire of the SEC over what the regulator called a misleading claim about the electric vehicle maker's stock price.

The SEC had alleged that Musk did not have the estimated $25-50bn needed to make that deal happen.

The website description says they want to help Musk with this "preposterous" SEC filing against him.

The settlement still needs approval from the courts.

Additionally, Judge Alison Nathan who is handling the case has asked for a joint submission explaining why she should approve the deal, so poking the lion's cage at this stage isn't the brightest.

Shares of the company, down around 14 percent this year but still up nearly 30 percent since the start of 2017, were last down 6.9 percent at $262.63. Despite burning through approximately $3.48 billion over the course of a year, Elon Musk hinted that Tesla may soon be profitable in recent emails to employees.

Tesla did not immediately respond to CNBC's request for comment.