U.S. SEC chairman says Tesla case is \'settled\' despite CEO\'s tweet

U.S. SEC chairman says Tesla case is 'settled' despite CEO's tweet

Reuters  |  WASHINGTON 

By Johnson

WASHINGTON (Reuters) - The said on Monday that the agency would not revisit its securities fraud settlement with despite Elon Musk's tweet mocking the regulator.

appeared to be unaware of the Oct. 4 tweet describing the SEC as the "Shortseller Enrichment Commission," when CNBC anchors read it to him on Monday.

"He said that?" Clayton asked, declining to comment further. "As far as I'm concerned, that matter is settled."

Tesla and Musk agreed in September to pay $20 million each to the SEC after he misled investors with tweets on Aug. 7 that said he was considering taking Tesla private.

The settlement requires him to be more restrained on Twitter, prompting speculation that the agency could review the agreement after Musk's Oct. 4 tweet which came hours after a ordered him and the SEC to justify their settlement. Shares of the electric carmaker fell as much as 4 percent after that tweet.

"I think it was an appropriate settlement; one that sent a message to the marketplace, letting CEOs know that if they speak, they need to speak accurately," Clayton said.

(Reporting by Johnson; Editing by and Richard Chang)

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First Published: Tue, November 27 2018. 04:43 IST