logo-loader
Tesla Inc

Tesla founder Musk says he doesn’t respect SEC but is abiding by terms of settlement

After claiming in a tweet that he was thinking about taking Tesla private at $420 a share with funding secured, he agreed to step down as chairman and allow the company to be overseen by the board

An illustration with the Tesla logo
Shares of Tesla climbed after Musk's comments on the CBS news program "60 Minutes"

Tesla Inc (NASDAQ:TSLA) founder and CEO Elon Musk said in an interview with the CBS Corp (NYSE:CBS) program '60 Minutes' for broadcast Sunday, that while he doesn’t respect the Securities and Exchange Commission, he says he is abiding by the terms of a settlement with the agency.

The reason is that he respects the justice system, he told correspondent Lesley Stahl.

READ: Wall Street analysts weigh in on Tesla's potential path to p rivatization

After claiming in a tweet that he was thinking about taking Tesla private at $420 a share with funding secured, he agreed to step down as chairman and allow the company to be overseen by the board.

Shares of Tesla climbed 1% to $361.71 in Monday’s Nasdaq trading.

Musk told Stahl that none of his tweets has been censored since the September settlement.

“I wanna be clear," Musk said. "I do not respect the SEC. I do not respect them."



Contact Dennis Fitzgerald at [email protected]

Quick facts: Tesla Inc

Price: $221.60

Market: NASDAQ
Market Cap: $39.69 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Fireweed Zinc releases details of drill holes at Tom North...

Fireweed Zinc (CVE: FWZ) CEO Brandon MacDonald sat down with Steve Darling from Proactive Vancouver to discuss their latest result from drilling on the Macmillan Pass Project in the Yukon.  MacDonald telling Proactive the results they found and why they decided to do a step out hole as...

30 minutes ago

2 min read