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Tesla CEO Elon Musk mocked the Securities and Exchange Commission in a tweet on Thursday.

A Thursday afternoon tweet (exactly a week after the SEC sued him) sarcastically praised the SEC's name - changing it to "Shortseller Enrichment Commission".

Getting back to today's story, The New York Times says Musk demand that Tesla fight the SEC complaint and company's board "publicly extol his integrity".

The SEC in its lawsuit accused Musk of making "false and misleading statements" in August about the possibility of taking Tesla private. As per SEC, Musk's statements violate the 1934 Securities Exchange Act, and that Musk "knew or was reckless in not knowing" that his tweets were not accurate and correct.

It later emerged in court documents filed by the SEC that while investors had briefly discussed the possibility, no funding had been secured and the figure Mr Musk suggested was a reference to April 20, a day celebrated by fans of marijuana, a drug that is legal in California but banned in the United Kingdom and several other USA states.

"It bolsters the SEC's argument that to the extent he was misrepresenting the facts, that he was [tweeting] to screw with the shortsellers", Alma Angotti, a managing director at Navigant and former SEC senior counsel said.

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Musk has long waged a rhetorical war against shortsellers-investors who borrow shares of Tesla in order to profit if the price drops.

And he isn't just tweeting silly cat pics.

FILE PHOTO: A newly installed vehicle charger at a Tesla Super Charging station is shown in Carlsbad, California, U.S. September 14, 2018.

Pritchard said before Musk's tweet that he saw no "serious chance" for a rejection of Musk's settlement, based on 2nd Circuit precedent.

Part of Musk's settlement from last week is an agreement to reign in his tweeting habits.

The case is SEC v Musk, U.S. District Court, Southern District of New York, No. 18-08865.


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