Published: Wed, October 17, 2018
Markets | By Otis Pena

Elon Musk, Tesla SEC settlement gets federal judge's approval

Elon Musk, Tesla SEC settlement gets federal judge's approval

And that eventually is soon, as at the end of last week, news surface of Tesla filing an application with the U.S. Patent and Trademark Office (USPTO) to register the trademark Teslaquilla.

Musk, now Tesla's CEO, tweeted on Friday that a new branded tequila was in the works and has posted a placeholder label mockup for a Teslaquila bottle.

The mercurial American entrepreneur saw Tesla shares drop the next day, closing down some 5 percent. On April Fool's Day, Musk tweeted, "Despite intense efforts to raise money, including a last-ditch mass sale of Easter Eggs, we are sad to report that Tesla has gone completely and totally bankrupt". Earlier this year, the Tesla CEO teased netizens with the idea of a Tesla-branded tequila, calling it "Teslaquila' and it got the attention of many".

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That tweet was followed by a photo titled "Visual approximation" featuring a red bottle label with a banner that reads "Teslaquila" under the company's signature Tesla logo. But as CNBC points out, Tesla filed it with an "intent to use" which indicates that it has a good faith intention to utilise it in the future.

The application identifies Teslaquila as either "distilled agave liquor" or "distilled blue agave liquor".

A US judge on Tuesday approved a settlement between a federal regulator, Tesla Inc and its chief executive officer, Elon Musk, over his tweets promising to take the company private, signaling an end to a tumultuous period for investors.

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