According to the vote of the head of the US Securities and Stock Exchange Committee against the agency, which suits Elon Musk due to violations of the alleged billionaire securities regarding the disclosure of Twitter shares.
Quoted by unknown sources, Reuters reported on March 24 that the five SEC Commissioners I am Vote on whether or not the musk will be prosecuted before the agency filed a lawsuit against billionaire.
Four Commissioners voted for Saleh, while the only opposition from Mark Oida, who was appointed as the Acting President by US President Donald Trump on January 20. SEC Hyster Peres Commissioner with three other commissioners to prosecute musk.
Uyeda and PEIRCE are known for their opposition opinions on SEC enforcement procedures against the encryption industry during the period of former SEC President Gary Ginsler in his position.
In 2022, Elon Musk Twitter bought 44 billion dollars and renamed the social media platform to X. After the acquisition, SEC began to investigate whether Musk violated any securities laws when they were acquired on the platform. The Securities and Stock Exchange Committee filed a lawsuit on January 14 claiming that Musk failed to reveal the purchase of Twitter shares within the required 10 days window after exceeding the property threshold by 5 %. The agency said that Musk delayed the disclosure for 11 days, allowing it to continue obtaining the shares at lower prices, and eventually saving estimated at $ 150 million. Related to: Musk says that he found “magic computers” printing money from delicate air “ MUSK lawyer, Alex Spiro, previously told Cointelegraph that SEC's work is “acceptance” that cannot make an actual case. Meanwhile, musk Described SEC as a “completely broken organization” on X, saying “many actual crimes” pass without punishment. About a month after the lawsuit was filed, the Ministry of Governmental efficiency (DOGE), a US government agency led by Musk, put its attention on the Supreme Education Council. On February 17, a page of Doge Company called on the public to reveal any “waste, fraud and abuse” related to SEC. Musk also shared the post of more than 200 million followers on X. The court file indicates that the musk has until April 4 to respond to the lawsuit. Meanwhile, President Trump issued an executive order calling for a review of what he calls political motives in the Supreme Education Council and other federal agencies under the previous administration. https://www.youtube.com/watch? magazine: Memecoins is DED – but Solana '100x is better “despite the decrease in revenues
A lawsuit against Elon Musk
Elon Musk returns to the “broken” organization
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