Tesla Inc CEO Elon Musk on Thursday stepped up criticism of the U.S. securities regulator, calling Securities and Exchange Commission officials "bastards" for bringing fraud charges against him over his 2018 tweets regarding taking the company private.
Highlights
- Tesla Inc CEO Elon Musk steps up criticism of U.S.
- securities regulator.
- Musk aired his grievances toward the SEC during remarks at the TED Conference in Vancouver.
- Musk said he felt forced to settle with the SEC because banks threatened to cease providing capital if he did not do so, which would have made Tesla bankrupt immediately.
- Musk and Tesla each paid $20 million civil fines - and Musk stepped down as Tesla’s chairman - to resolve SEC claims that Musk defrauded investors on Aug.
- 7, 2018, by posting on Twitter that he had “funding secured” to take the company private.