*By Kavitha Shastry* Shares of Tesla fell Friday morning after CEO Elon Musk's latest tweet seemed to reignite drama between him and the SEC. "Just want to \[say\] that the Shortseller Enrichment Commission is doing incredible work. And the name change is so on point!" the often-erratic exec [posted](https://twitter.com/elonmusk/status/1047943670350020608) Thursday afternoon. The apparent jibe came just days after Musk settled civil securities fraud charges with the regulator, agreeing to step down as chairman for three years and pay a $20 million fine, with Tesla ($TSLA) paying an additional $20 million. Part of the deal reportedly also required him to get approval for all tweets related to his company before posting. Whether Musk's new tweet puts that agreement in jeopardy is unclear ー just hours before the post, a federal judge, who still must sign off on the deal, asked both Musk and the SEC to submit letters justifying why the settlement is "fair and reasonable". All this stems from another Musk [tweet](https://twitter.com/elonmusk/status/1026872652290379776) in early August in which he claimed to have "funding secured" to take Tesla private at $420 a share, what would have been more than a 20 percent premium at the time. Shares spiked on the statement, but pulled back sharply after Musk admitted a deal hadn't yet been reached and ultimately [backed off](https://www.tesla.com/blog/staying-public) of plans entirely. The SEC launched an investigation into whether Musk violated securities laws by making "reckless" statements that caused such dramatic movements in the stock and lost some investors significant amounts of money. The agency was reportedly close to a deal when Musk pulled out at the last minute, prompting it to file a lawsuit last Thursday that was settled over the weekend. Musk was [reportedly](https://www.wsj.com/articles/mark-cuban-prodded-teslas-elon-musk-to-settle-sec-charges-1538678655?mod=searchresults&page=1&pos=3) encouraged to reach an agreement by Mark Cuban, who settled insider trading charges from the SEC five years ago. The Dallas Mavericks owner told Musk that fighting such charges would distract him from running his companies. In addition to Tesla, Musk is also CEO of SpaceX, The Boring Company, and Neuralink. For full interview [click here](https://cheddar.com/videos/tesla-shares-continue-to-spiral-after-musk-pokes-fun-at-sec).

Share:
More In Business
Poll: More Americans think companies benefit from legal immigration
A new poll finds U.S. adults are more likely than they were a year ago to think immigrants in the country legally benefit the economy. That comes as President Donald Trump's administration imposes new restrictions targeting legal pathways into the country. The Associated Press-NORC Center for Public Affairs Research survey finds Americans are more likely than they were in March 2024 to say it’s a “major benefit” that people who come to the U.S. legally contribute to the economy and help American companies get the expertise of skilled workers. At the same time, perceptions of illegal immigration haven’t shifted meaningfully. Americans still see fewer benefits from people who come to the U.S. illegally.
Tylenol maker rebounds a day after unfounded claims about its safety
Shares of Tylenol maker Kenvue are bouncing back sharply before the opening bell a day after President Donald Trump promoted unproven and in some cases discredited ties between Tylenol, vaccines and autism. Trump told pregnant women not to use the painkiller around a dozen times during the White House news conference Monday. The drugmaker tumbled 7.5%. Shares have regained most of those losses early Tuesday in premarket trading.
Load More