Musk must testify in SEC investigation, court rules

[BumRushDaShow]

Source: Axios

11 hours ago


Elon Musk must comply with a Securities and Exchange Commission subpoena to testify in the SEC's investigation into the October 2022 Twitter takeover, a federal court ruled Tuesday.

The big picture: Musk had argued the SEC didn't have the authority to subpoena him in the investigation into whether he violated federal securities laws in the takeover of the site now known as X and accused the federal agency of harassment amid a years-long feud.

However, in siding with a February lower court ruling for the billionaire to be deposed, U.S. District Judge Jacqueline Scott Corley agreed that "the investigations Musk contends constitute harassment are 'legitimate government investigations.'"

Representatives for X did not immediately respond to Axios' request for comment on the ruling, which came from the U.S. District Court for the Northern District of California.

Read more: https://www.axios.com/2024/05/14/elon-musk-sec-subpoena-testify

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Short article at post time.

[elleng]

1. 'subpoena to testify in the SEC's investigation into the October 2022 Twitter takeover'

[Ford_Prefect]

2. Musk played hide and seek with regulators during his actions to acquire Twitter by deliberately misfiling information

relevant to how much of the target company stock he had purchased. Now he complains he's being rudely examined for getting caught doing what any aggressive investor involved in a leveraged takeover would do.

Have pity on our poor little oligarch. How he hates it when the rules apply to HIM too.

[Roy Rolling]

3. Can't a weasel billionaire catch a break?

What kind of county do we live in where a South African immigrant can’t sell the American government on funding a plan to build a one-person condo on planet Mars?

America! Where any idiot can be who they want to be even if they aren’t who they are. 😝

[OldBaldy1701E]

6. With all due respect.

You left out a word. Only RICH idiots can be whomever they want. That is part of the entire issue. Wealth means complete authority these days. (It doesn't, but they have done a massively bang-up job convincing us that it does.)

[bucolic_frolic]

4. Eloon sure didn't buy it because it was a good investment

I was short TWTR when he announced. I lost money. All because of some big fat pocketed ego.

[OldBaldy1701E]

5. "The investigations Musk contends constitute harassment are 'legitimate government investigations.'"

Gods, one could just change the word 'Musk' to any criminal rethug and the sentence would still be true.

[Midnight Writer]

7. Can't a born-rich billionaire catch a break in this country?

It is so annoying when the Lords of the Manor have to contend with the little rules of the peasants.

[hueymahl]

8. Really don't get the hate for Elon on this site

Free speech advocate - check
Environmentalist - check
Helped advance crucial tech like lithium batteries and electric cars
Helped bring commercial access to space a cost 100x cheaper than was previously available
Launched a world-wide network for internet access, expanding communications and free speech

Yes, he does not agree with us 100% on all issues. But we don't agree amongst ourselves half the time!

Oh well.

[BumRushDaShow]

9. American society prefers to engage with people

who know how and when to invoke some sort of "filter" and ability to "read the room", and he has none of that nor cares enough to show some modicum of respect for others.

This has nothing to do with the employees who actually did the tech work, which needs to be emphasized because there has been this assumption that it was him alone.

[hueymahl]

10. There is no doubt he is unfiltered and arrogant

And it took tens of thousands of people to accomplish his vision. But other than getting our feelings hurt about how he talks, it is hard to argue society would have been better off without him. He has advanced some very important Democratic and progressive goals in this country in a far more successful way than virtually anyone that I can think of.

I'd rather have one Elon Musk advancing important shared goals than 1000 people that use speech in the approved way but don't accomplish much.

[BumRushDaShow]

11. There are plenty of "free speech" advocates - notably being one of the missions of the ACLU

and those who support that organization, and they certainly didn't do it by continual exhibition of erratic behavior and insults.

I don't always agree with what the ACLU does but it was doing this decades before Musk or even his parents were born.

[hueymahl]

12. True

I guess I can tolerate more erratic behavior and insults from people that are accomplishing great things in their lives. Things that advance humanity.

Some get offended and blinded to the good.

Give me the accomplished asshole over polite mediocrity!

[BumRushDaShow]

13. Well we have seen the same hurled at

Bill Gates, Paul Allen, Steve Jobs, and yes even Jacques Cousteau. They were more nerdy and awkward with people vs being outright insulting... although I suppose you could go back to the days of James Watson and Frances Crick, when competitive nastiness was a "thing".

[republianmushroom]

14. Good