Elon Musk blasts SEC, says nobody is watching their tweets

"I want to be clear: I do not respect the SEC," he told Lesley Stahl during an interview with CBS "60 Minutes", which sent Sunday.

Musk said that he adheres to his terms of settlement agreement "because I respect the judicial system." But he pointed out that there is no love lost between him and the SEC.
Musk and Tesla, the electric car company he runs, separately reached $ 20 million deals with the agency in September to determine the security fraud charges granted to Musk arising from statements made on Twitter. As part of the agreement, Tesla said that it would determine the supervision of Musical's social media use by prior approval of positions that may contain information that is "material" to Tesla shareholders.

But Musk, who has long been known for his liberal and informal use of Twitter, told Stahl that nobody is proofreading all his posts. Elon Musk says Tesla was weeks from death ”[ads1]; data-src-mini=”//” data-src-xsmall=”//” data-src-small=”” data-src-medium=”//” data-src-large=”//” data-src-full16x9=”//” data-src-mini1x1=”//” data-demand-load=”not-loaded” data-eq-pts=”mini: 0, xsmall: 221, small: 308, medium: 461, large: 781″ src=”data:image/gif;base64,R0lGODlhEAAJAJEAAAAAAP///////wAAACH5BAEAAAIALAAAAAAQAAkAAAIKlI+py+0Po5yUFQA7″/>

 Elon Musk says that Tesla was weeks from death </div>
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"The only tweets that might be considered … would be if a tweet had a likelihood of causing a movement in the stock," he said. "Otherwise it's – Hey, First Amendment."

Stahl then asked: "But how do they know if it's going to move on the market if they do not read them all before you send them?"

Well, I suppose we can make some mistakes, "Black Musk." Who knows? "

Neither Tesla nor SEC responded to requests for comment.

In September, regulators sent a lawsuit against Musk. He was tempted to investors when he tweeted that he had "secured" funding to take Tesla privately at $ 420 per share, a significant mark over the company's trading price. However, Musk had actually not locked funding for such an agreement.

Musk signaling first that he would fight for the agency, although he reversed the course a few days later. In addition to a bottom, Musk agreed to withdraw from his role as Tesla's leader.

The company said last month that Robyn Denholm, a board member of Tesla and veteran from several technical companies would take over the role. Elon Musk wants the world to embrace electric cars, even if Tesla goes bankrupt "class =" media__image "src =" / dam / assets / 180817093757-Elon musk- tesla-model-s-large-169.jpg "/>

Musk, who is the CEO, said in his interview in 60 minutes that he had handpicked her. But he replied to a suggestion that Denholm should serve as his "babysitter".

"It's not realistic in the sense that I'm the biggest shareholder in the company," he said. "I can only call for shareholders vote and get everything done as I want."

He added that he has no interest in one day to regain the chairman's title.

"I really prefer to have no titles at all," he said.

The crouch of the SEC with the SEC is only one in a number of controversies brought this year by its erratic behavior which has led them to reduce a Thai hule rescue workers and brushes by analysts' questions under an earnings is called "boring."

Musk said he was "under crazy stress and crazy crazy hours" earlier this year when Tesla fought with production delays.

"But the system would have failed if I was really erratic," Musk said. "There has been insubstantial criticism, relentless and outrageous and unfair … What really happened here was an incredible American success story."

Tesla corrected its production problems and delivered a net profit of $ 312 million in October without doubt the biggest ever and the first quarterly earnings since 2016.

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