New York: The lawsuit seeks to bar Musk from serving as an executive or director of publicly traded firms like Tesla, media reports.  Such a punishment is one of the most serious remedies the SEC can impose against a corporate executive. At issue is Musk’s declaration on Twitter last month he had “funding secured” to buy out the stock of the electric-car maker.  The SEC said Musk “knew or was reckless in not knowing” that his statements were false or misleading. Musk responded later on Thursday, calling the move “unjustified.”