Current SEC chair cast only vote against suing Elon Musk, report says

Acting Head of SEC Was Only Commissioner Who Didn't Vote to Sue Elon Musk

Musk is accused of securities law violations related to his purchase of Twitter.

Current SEC chair cast only vote against suing Elon Musk, report says

SEC case over late disclosure of Twitter stock buy still moving ahead, for now.

​SEC's Interim Chief Mark Uyeda Solely Opposes Lawsuit Against Elon Musk ​

Days before Republicans took the helm of the U.S. Securities and Exchange Commission in January, the agency’s five commissioners held a closed-door vote on whether to sue Elon Musk. Since 2022, the agency had been investigating whether the billionaire, a close ally of incoming President Donald Trump, had violated securities laws by disclosing too late his purchase of shares of Twitter, now known as X, prior to acquiring the company that year. Re…

The Securities and Exchange Commission (SEC) recently voted in camera to bring legal action against Elon Musk, concerning the late disclosure of its acquisition of Twitter shares. Of the five commissioners, four voted in favour of the prosecution, while Mark Uyeda, interim president of the SEC, was the only one to oppose it. Why? An explosive matter between regulation, tensions and suspicions of political motivation.

Current SEC chair cast only vote against suing Elon Musk, report says - WorldNL Magazine

SEC v. Musk still moving ahead Before Musk bought Twitter for $44 billion, he purchased a 9 percent stake in the company and failed to disclose it within 10 days as required under US law. "Defendant Elon Musk failed to timely file with the SEC a beneficial ownership report disclosing his acquisition of more than five percent of the outstanding shares of Twitter's common stock in March 2022, in violation of the federal securities laws," the SEC s…

SEC Chair Voted Against Suing Elon Musk: Reuters

Julia Smith 2025-03-24 17:21:00 cryptonews.com Last updated: March 24, 2025 17:21 EDT Author Julia Smith Author Julia Smith About Author Julia is an experienced…