Elon Musk States That Something Is ‘Broken’ Within The SEC Watchdog

0 844

Elon Musk states that Something is ‘Broken’ within the SEC Watchdog. Elon Musk has taken out to the stock market watchdog SEC.

 

In a tweet, the Tesla CEO writes that something is “broken” within the American regulator.

The SEC asked the judge in New York Tuesday to judge the alleged violation of a previous settlement with Musk.

The case revolves around a tweet from Musk of 20 February in which he states that Tesla produced zero cars in 2011,

 but that the company would make some 500,000 cars by 2019.

In reality, the company will build 400,000 vehicles by 2019. Musk twittered later.

However, he assumes the production rate at the end of 2019 to be 500,000 cars.

According to the SEC, Musk also had his tweets not confirmed in advance,

 as he had agreed with the regulator.

The agreements have been laid down in a settlement after previous misleading tweets.

At the end of September, Musk and the stock market watchdog obtained a settlement after the SEC had sued him for fraud.

Musk would have committed fraud when he declared via Twitter that he wanted to get Tesla out of the stock market for 360 pounds per share.

It is not the first time that Musk attacks the stock market watchdog on Twitter.

After the settlement, he stated that the SEC stood for ‘Shortseller Enrichment Commission’,

 by which he determined that the stock market watchdog helps so-called short sellers (people who speculate on the decline of a share, ed.).

Leave A Reply