Musk Urges Court To Reject SEC’s ‘Duplicative And Harassing’ Effort To Force His Testimony In Twitter Probe

Trending 7 months ago


X proprietor Elon Musk asked a national tribunal to artifact nan U.S. Securities and Exchange Commission's effort to unit him to attest successful nan regulator’s investigation into his $44 cardinal acquisition of nan societal media institution formerly known arsenic Twitter.

SpaceX, X (formerly known arsenic Twitter), and Tesla CEO Elon Musk speaks pinch members of nan media ... [+] during time 1 of nan AI Safety Summit astatine Bletchley Park successful Bletchley, England.

Getty Images

Key Facts

In a filing pinch nan Northern District of California national court, Musk’s lawyer referred to nan SEC’s demands arsenic “duplicative and harassing,” saying they person been made “under nan guise of never-ending investigations” into his companies.

Musk’s lawyers accused nan SEC of attempting to tarnish Musk pinch “baseless accusations,” claiming nan eighteen-month-long investigation was prompted by “nothing much than allegedly days-late filings.”

The filing notes Musk received 5 subpoenas for documents and 3 seeking his grounds arsenic portion of nan investigation.

Musk has provided nan agency pinch grounds totaling 9 hours crossed his first 2 summons, wherever he said connected matters related to his acquisition of Twitter banal successful 2022 and perchance joining nan company’s board.

Musk’s attorneys impeach nan SEC of wrongly claiming Musk agreed to supply a 3rd grounds of nan matter, saying his counsel did not “consent to a 3rd grounds aliases concede that nan Commission has nan authority to compel it.”

The filing argues that nan agency’s investigation into nan matter should person ended a twelvemonth ago, arsenic it appeals to nan tribunal to contradict nan effort to enforce nan subpoena.

Crucial Quote

“This is conscionable nan latest section successful a more-than-five-year saga of agency harassment against Mr. Musk and related entities. While nan specifications whitethorn change, nan communicative stays nan same: bad religion investigations conducted by officials acting successful clear usurpation of nan Constitution. The SEC has proceeded successful excess of its authority and contrary to law, and its Application should beryllium denied,” nan filing adds.

Copyright © PAPAREAD.COM 2024