Kanye West Says Leave Elon Musk Alone In Rant To College Students

Kanye West Says Leave Elon Musk Alone In Rant To College Students

Kanye West Says Leave Elon Musk Alone In Rant To College Students

West made the comments Tuesday as he checked out student projects at the Detroit College for Creative Studies, a private art school.

The settlement last Saturday was meant to resolve charges that Musk misled investors in tweets on August 7, including that there was "funding secured" to take his Palo Alto, California-based company private at $420 per share.

Tesla and Mr. Musk agreed to pay $20-M each to the regulator under the settlement, and Mr. Musk to step down as the company's Chairman but remain CEO as part of the deal. Unbelievable as it may sound, the $40 million fine and losing the chairmanship of Tesla doesn't seem to have done much to deter Musk from speaking his mind over Twitter.

"Just want to [sic] that the Shortseller Enrichment Commission is doing incredible work", he said.

Another day, another tweet storm from Elon Musk that has the potential to cause major problems for Tesla Inc.

Some Tesla directors have proposed that James Murdoch, fellow board member at the electric carmaker and chief executive officer of Twenty-First Century Fox Inc (FOXA.O), succeed Elon Musk as its chairman, the New York Times reported on Tuesday, citing people involved in the board's discussions. U.S. District Judge Alison Nathan today ordered the SEC, Musk and Tesla to filed documents by October 11 explaining why the agreement is "fair and reasonable". "And the name change is so on point!" he said on Twitter.

The settlement agreements Musk and Tesla reached with the Securities and Exchange Commission don't include any kind of bar on Musk's continued service as a director of the auto company.

"Keep it coming, Elon", one person said.

"Mr. Musk has excellent attorneys", said Marc Leaf, a partner at Drinker Biddle & Reath in NY who used to work for the SEC as an adviser to a commissioner.

Shares of Tesla closed down $12.97, or 4.4 percent, at $281.83, and fell another 2.1 percent to $276 following Musk's tweet after market hours.

BlackRock declined to comment on Musk's tweet. Under terms of the settlement, neither Musk nor Tesla admitted or denied the allegations.

"Tesla will establish a new committee of independent directors and put in place additional controls and procedures to oversee Musk's communications", according to an SEC summary of the settlement.

But the settlement still needs court approval.

Musk also dragged BlackRock into his long-running dispute with short sellers, alleging the fund manager was reaping heavy profits by lending shares they hold to this group of investors.

"Someone has to get a hold of his Twitter account and stop him", Henning said.

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