sec sues elon musk

[bitterguy28]

sec sues elon musk for apparently not reporting his ownership of what is formerly called twitter now named x

mere 11 days after musk owned x did only he record the shares he has owned and now sec is asking a $150 million from musk. elon musk's lawyer calls this lawsuit a sham and accuses of sec of harassing musk for the last time before trump takes the seat in the white house

do you think sec has a hidden agenda behind this lawsuit? is this an attack from sec because of elon's association with trump or not? do you think this will affect musk and the platform?

source here

[0t3p0t]

I think if that was legal and has no intention of politically sabotaging Elon Musk then that is acceptable but if not then something is going on with that and harassment maybe the right word for that as we all know every last period or term in politics really has something you and me might witness either it is good or bad. We don't really know what is really the SEC's intent but yeah this isn't new even in our country it is very common. I think SEC's decision will change when the new administration will officially took office if not then I don't know what is.

[target]

Trump has lots of enemies sueing him of all kind of things which he been cleared to some of it. He has created powerful enemies on top. Because Musk is Trumps partner in many ways, it's not surprising that Musk will also be facing these problems in his business.

Yes it's a sham because everyone knew Musk owns twitter, it do sn't even need reporting anymore. But I guess they can do it after all if Musk didn't report it on papers, the SEC can get money out of it.

[Findingnemo]

Nothing can be accomplished with this lawsuit, even if SEC manage to win then Elon knows how to turn it to positive and make few billions out of it. So better not engage with him for nothing that's a suicidal.

[Zed0X]

The timing of it all is suspect. I mean they started the investigation in 2022 and they just filed a case now? There are public records that would show Musk's accounts and there are supporting transactions (paper trail) that could be checked but I doubt it would take two years to find that out.

[bitterguy28]

We don't really know what is really the SEC's intent

no one knows all we can do is make assumptions even elon and his team would not able to know the real intentions of sec but i think elon will fight to the best he can anyway and will not want to give sec even a dime

I think SEC's decision will change when the new administration will officially took office if not then I don't know what is.

that depends because if they end up finishing up this lawsuit in a few days then there will be a winner and a loser even before trump can take office and who knows maybe the new sec administration will just continue this lawsuit against elon as to not make sec look indecisive and inconsistent

[Penlex_Writer]

sec sues elon musk for apparently not reporting his ownership of what is formerly called twitter now named x

mere 11 days after musk owned x did only he record the shares he has owned and now sec is asking a $150 million from musk. elon musk's lawyer calls this lawsuit a sham and accuses of sec of harassing musk for the last time before trump takes the seat in the white house

do you think sec has a hidden agenda behind this lawsuit? is this an attack from sec because of elon's association with trump or not? do you think this will affect musk and the platform?

source here

base on my observation i think sec has no hidden agenda against elon musk,he did not officially disclosed that he is the owner of twitter,i see it as failure of admistration.

[Rruchi man]

do you think sec has a hidden agenda behind this lawsuit? is this an attack from sec because of elon's association with trump or not? do you think this will affect musk and the platform?

But is this not the same SEC that the present Chairman is about to step down ? will this case still be continued when the new chairman who is likely in same canopy as Elon and Donald Trump steps in? Maybe, I don't really understand the legal side.

Elon musk must have the best lawyers that money can buy to be able to handle any sort of situations or lawsuit against him considering his involvement in many things. This will not be the first challenge he has faced.

[JoyMarsha]

sec sues elon musk for apparently not reporting his ownership of what is formerly called twitter now named x

mere 11 days after musk owned x did only he record the shares he has owned and now sec is asking a $150 million from musk. elon musk's lawyer calls this lawsuit a sham and accuses of sec of harassing musk for the last time before trump takes the seat in the white house

do you think sec has a hidden agenda behind this lawsuit? is this an attack from sec because of elon's association with trump or not? do you think this will affect musk and the platform?

source here

base on my observation i think sec has no hidden agenda against elon musk,he did not officially disclosed that he is the owner of twitter,i see it as failure of admistration.

SEC are just waking up from their sleep now. This is what they would have done since than bringing up a lawsuit against a man whose his right man(Trump) will be assuming into office in few days from now as the US president. Hopefully, the lawsuit will be swept underfoot. Trump will then use his constitutional power to close up the case so as not to be raised again in the future.

[Zed0X]

~
But is this not the same SEC that the present Chairman is about to step down ? will this case still be continued when the new chairman who is likely in same canopy as Elon and Donald Trump steps in? Maybe, I don't really understand the legal side.

Elon musk must have the best lawyers that money can buy to be able to handle any sort of situations or lawsuit against him considering his involvement in many things. This will not be the first challenge he has faced.

Yeah, I guess this is just another 'achievement' that Gensler could brag about to his peers. Something like he worked until the very last day at his job Anyway, this puts the incoming SEC chair in an awkward position because, surely, he must have met Elon plenty of times during the campaign.

[DragonF]

do you think sec has a hidden agenda behind this lawsuit? is this an attack from sec because of elon's association with trump or not? do you think this will affect musk and the platform?

I do not believe this lawsuit has any hidden agenda or is politically motivated. When looking at the legal obligations under US security law, it is clear that there is a breach. This is not the first time a lawsuit has been filed against individuals who failed to report a change in ownership of a public traded company within 10 days of acquisition by SEC. The purpose of this regulation is simply to raise public awareness of the ownership change.

Well, if Elon Musk is found to have violated the applicable provision of the US Security Law, it will result in financial obligations, but otherwise, I do not think this will have an impact on the platform or Elon Musk's reputation. 

[joniboini]

It looks like Musk has been involved in some drama lately. I heard he also had a beef with Asmongold because of his PoE scandal. Whether this is politically motivated or not, an open investigation is necessary if there's enough evidence to do so.

Btw, I'm not sure if the fine is $150 million. Based on the article that number is the amount of money Musk was able to save for buying Twitter. CMIIW.