Tesla CEO Elon Musk has taken to Twitter to mock the Securities and Exchange Commission, which recently moved to force him out as chairman of the electric vehicle company over security fraud charges stemming from a prior tweet. "And the name change is so on point!"
The SEC declined to comment about Musk's tweet.
The SEC, whose @SEC_News Twitter handle has about 251,000 followers to Musk's more than 22.8 million, is also active on the messaging service but has refrained from posting about Musk or Tesla since last weekend's settlement. 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.
As a result, the SEC reportedly increased Musk's fine from $10 (£7.7 / €8.7) million to $20 (£15.4 / €17.4) million.
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Musk also dragged BlackRock Inc. into his long-running dispute with short sellers, claiming that the fund manager was reaping heavy profits by lending shares they hold to this group of investors.
Tesla declined to comment.
But two days after the settlement, Musk had already raised eyebrows by tweeting out the video for "OPP", a 1990s hip-hop tune by the group "Naughty by Nature", along with a winking emoji, at 1.22am California time.
FILE PHOTO: Tesla Chief Executive Elon Musk stands on the podium as he attends a forum on startups in Hong Kong, China January 26, 2016.
Musk's tweet on Thursday received more than 2,500 responses, with some users questioning the billionaire's judgment.
Elon Musk has mocked a U.S. financial regulator just days after reaching an agreement with it over fraud charges.