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US judge rejects SEC bid to sanction Elon Musk
Economic Times
·
7m ago
Medial
A federal judge in San Francisco rejected the SEC's request to sanction Elon Musk for failing to appear for court-ordered testimony in the investigation of his Twitter takeover. The judge said sanctions were unnecessary since Musk testified later and agreed to pay travel costs. The SEC sought a declaration that Musk violated a court order, but Musk argued he complied by testifying. The SEC's request was deemed moot. Musk had been investigated for potentially violating securities laws in acquiring Twitter shares. In 2018, Musk settled with the SEC over his Twitter posts about taking Tesla private.
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The SEC is sick of Elon Musk’s attempts to delay its Twitter investigation
The Verge
·
1y ago
Medial
The US Securities and Exchange Commission (SEC) has accused Elon Musk of attempting to delay their investigation into his acquisition of Twitter, claiming he has "misrepresented" the scope of the investigation. The SEC has been investigating Musk since 2022 over his failure to disclose a substantial stake in Twitter before initiating his acquisition. Musk has fought against testifying to the SEC and accused them of "harassment". A federal judge previously ordered him to cooperate in the investigation, but the testimony has yet to take place. The SEC now alleges that Musk is using delay tactics to hinder the investigation.
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Elon Musk loses bid to thwart investor suit over Twitter purchase
Economic Times
·
3m ago
Medial
Elon Musk lost a legal bid to dismiss an investor lawsuit alleging he manipulated Twitter's stock price prior to acquiring the company in 2022. Investors claim Musk committed securities fraud by not disclosing his Twitter stock acquisitions to the SEC, posting misleading tweets, and silently increasing his stake. A Manhattan federal judge allowed the case to proceed, asserting some of Musk's tweets support fraud claims, while Musk's lawyers argue the lawsuit lacks legal merit.
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US judge orders Elon Musk to testify in SEC's Twitter probe
Economic Times
·
1y ago
Medial
A federal judge has ordered Elon Musk to testify in the U.S. Securities and Exchange Commission's investigation into his acquisition of Twitter. The judge's order came after Musk refused to attend an interview as part of the probe. The SEC is examining whether Musk followed the law when filing paperwork for the Twitter takeover and if his statements about the deal were misleading. If both parties cannot agree on a date and time for the interview, the judge will decide. This is the latest in the ongoing friction between Musk and the SEC.
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Elon Musk ordered to answer questions on Twitter acquisition: California Court
Livemint
·
1y ago
Medial
A California federal court has ruled that Elon Musk must answer further questions from the SEC regarding his acquisition of Twitter (now X). The judge found the SEC's investigation to be legitimate and the requested testimony to be relevant, dismissing Musk's claims of harassment. Musk had previously testified before the SEC twice but the agency wants to question him about new information. The SEC is examining whether Musk followed disclosure rules and made accurate statements about his Twitter stock purchases. Musk has challenged the subpoena's validity.
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Delaware judge rejects Elon Musk's $56 billion Tesla pay - again
Economic Times
·
7m ago
Medial
A Delaware judge has ruled that Tesla CEO Elon Musk is still not eligible for a $56 billion compensation package, despite a shareholder vote in June to reinstate it. The judge's ruling follows her previous decision in January that deemed the pay package excessive and rescinded it. Tesla plans to appeal the ruling, stating that the judge overruled a majority of shareholders. Musk and Tesla can appeal to the Delaware Supreme Court once a final order is entered. The appeal process could take up to a year.
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Elon Musk may be compelled to testify again in SEC's Twitter takeover probe
Economic Times
·
1y ago
Medial
A federal judge may compel Elon Musk to testify again in the SEC's investigation into his Twitter takeover. Lawyers for Musk argued against the SEC's request for him to testify, alleging harassment with subpoenas. The judge did not make a decision during the hearing. The investigation focuses on whether Musk violated securities laws during his 2022 purchase of Twitter, now known as X. Musk has previously provided documents and testified for the SEC, but the agency seeks further testimony due to new documents. This ongoing dispute stems from Musk's 2018 tweet about taking Tesla private.
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SEC reopens probe into Elon Musk's Neuralink
Economic Times
·
7m ago
Medial
The US Securities and Exchange Commission (SEC) has reopened an investigation into Elon Musk's brain-chip startup Neuralink. A letter from Musk's lawyer to the outgoing SEC Chair mentioned a settlement demand and offered a 48-hour window for Musk to make a monetary payment or face charges. The letter also stated that Musk and his lawyer would not be intimidated by the SEC and reserved their legal rights. Neither the SEC nor Neuralink have provided any comment on the matter.
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US SEC has extended timeline for Musk to respond to settlement offer in Twitter probe, source says
Economic Times
·
7m ago
Medial
The US Securities and Exchange Commission (SEC) has extended the deadline for Elon Musk to respond to its settlement offer regarding an inquiry into his $44-billion takeover of Twitter in 2022. Initially given 48 hours to agree to pay a penalty or face charges, Musk requested additional time, prompting the extension to Monday. Neither the SEC nor Musk's lawyer have commented on the matter so far.
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Why Elon Musk might lose his latest battle with the SEC over Twitter probe
Economic Times
·
1y ago
Medial
The US Securities and Exchange Commission (SEC) is seeking to compel Elon Musk to testify in an investigation into his $44 billion takeover of Twitter. The SEC has taken legal action against Musk multiple times in the past and may have a stronger case this time. The agency is investigating whether Musk violated securities laws in relation to the Twitter deal. If Musk defies the court, he could face fines or even jail time. Musk has objected to testifying, claiming harassment and requesting time to review relevant material.
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Elon Musk can seek review of order in SEC subpoena matter: US judge
Economic Times
·
1y ago
Medial
Tesla CEO Elon Musk has the option to request a US District Court to review a magistrate judge's order that he must testify in the Securities and Exchange Commission's investigation into his takeover of Twitter. Musk's lawyers intend to seek review of the order, which formalized a tentative ruling in favor of the SEC. The investigation revolves around whether Musk violated regulations when filing paperwork regarding his Twitter stock purchases and if his statements on the matter were misleading. Musk has previously accused the SEC of harassment and has resisted their attempts to interview him.
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