U.S. judge approves SEC settlement with Tesla, shares jump

Elon Musk files 'Teslaquila' trademark

Science 14 Oct 2018 #NotAFakeNews Soon we may see Tesla-branded tequila Teslaquila

In addition, Musk must also step down as chairman of Tesla, although he will remain the company's CEO. Both Musk and Tesla will also pay $US20 million fines.

Fast forward to this week, when Musk followed up on his social-media platform of choice with a "visual approximation" of what the label could look like.

The formal approval of the settlement between the three, brings an end to the potential uncertainty for investors in the firm, following Musk's now infamous tweet that funding was secured to take the company private.

Tesla shares rose 4 per cent to US$269.81 in morning trading.

It was filed as "based on intent to use", which means Tesla does not have the product ready just yet.

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.

Thomas Gorman, a partner at Dorsey & Whitney in Washington, D.C., said Musk might argue that the latest tweet might be a mere "personal lament", and not a violation of the settlement.

The settlement terms will have Tesla pay a $20 million fine, and Musk will pay a $20 million fine. The total number of Model 3's built so far reached an important milestone of 100,000 cars last week, according to Bloomberg's Tesla tracker.

At 12:43 AM on October 14th, Elon Musk tweeted about Your Name, a 2016 romantic drama anime, saying simply "Love Your Name".

Twitter has frequently been Musk's go-to venue for freewheeling communications and confrontation with Tesla's critics.

Tesla founder Elon Musk has refuted a report that James Murdoch, son of News Corp. owner Rupert Murdoch, may replace him as Tesla Inc. chairman in a short tweet. The company will be required to appoint an independent chairman and directors with no direct ties to Musk.

What started as an April Fools' Day joke that left a poor taste in Tesla investors' mouths may soon become a reality.

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