Tesla has officially filed to trademark Elon Musk's 'Teslaquila'
- Author: Anthony Vega Oct 18, 2018,
Oct 18, 2018, 1:47
A USA federal judge on Tuesday approved a settlement between Tesla, Elon Musk and the Securities and Exchange Commission related to the CEO's tweets about taking the electric-car maker private. This had to be done with a view to settle fraud charges slapped on the company by U.S. financial regulators.
As part of the agreement, Tesla also must clamp down on Musk's communications with investors. Mr. Murdoch's name for consideration of the Chairman's post was also brought up previously by The New York Times.
Tesla shares rose 4 per cent to US$269.81 in morning trading.
Musk is Tesla's biggest shareholder by far. This came despite concerns from some industry observers that Musk's tweet mocking the SEC may have harmed chances of the settlement being approved.
Musk wasn't required to admit wrongdoing under the settlement.
Within days of the settlement, Musk shot off a tweet referring to the SEC as the "Shortseller Enrichment Commission" and sarcastically praising the regulator's work. "That's our goal. And I think we've made really good progress in that direction." said Musk during a 2015 quarterly earnings call. Musk's tweets set Twitter a buzz as people speculated that he is planning to build a robot after his tweets on the Japanese animation titles.