US EditionTrump Ghosts Musk, Won’t Back Claims SEC Lawsuit Was Political Harassment
Judge Sooknanan ruled against Musk’s claims that SEC rules are vague and selective, supporting disclosure laws designed to protect investors from undisclosed stock purchases.
- On Tuesday, Judge Sparkle L. Sooknanan dismissed Elon Musk's lawsuit in the District of Columbia over his failure to disclose his Twitter ownership stake before acquiring the company in 2022.
- Musk's 2022 purchases pushed him past the 5% ownership threshold, and he filed a lawsuit challenging SEC disclosure rules as unconstitutionally vague and selectively applied.
- The SEC alleged Musk's nondisclosure saved him about $150 million and caused 'substantial economic harm' to investors, noting the 5% ownership threshold requires disclosure.
- Sooknanan described the law's application as 'straightforward' and said Musk did not deny the SEC's charges, dismissing his constitutional arguments.
- Related suits against the SEC highlight high-profile enforcement tensions as the agency alleged Elon Musk's nondisclosure caused investor harm, underscoring ongoing scrutiny of large-share acquisitions.
22 Articles
22 Articles
When buying Twitter shares, Elon Musk reported too late that he had crossed an important equity brand. SEC sued him – and now achieved a partial success. Paris, too, has bad news for the billionaire.
Elon Musk reported that he was too late to cross an important investment mark when buying Twitter. The SEC went to court - and is now gaining a first legal stage success.
saarbruecker-zeitung.de
wiwo.deElon Musk reported that he was too late to cross an important investment mark when buying Twitter. The SEC went to court - and is now gaining a first legal stage success.
Judge hands Trump ally a stinging rebuke in court
One of President Donald Trump's most vocal allies received a stinging rebuke on Tuesday in a lawsuit against the president's Securities and Exchange Commission. In a new order, Judge Sparkle L. Sooknanan of the District of Columbia dismissed a lawsuit filed by Elon Musk over his failure to disclose ...
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