New York, March 22 -Tuesday, U.S. Supreme Securities Regulators urged federal judges not to allow Elon Musk to escape an agreement requiring him to monitor the use of Twitter. Harassment campaign.
In a Manhattan federal court filing, the U.S. Securities and Exchange Commission requires Musk to approve tweets and other public statements that Tesla’s lawyers may be important to his electric vehicle 2018. An automobile company that said it did not meet his “high burden” of revoking the year’s consent decree.
It’s not enough that Musk felt that compliance was “less convenient than he wanted,” or that the SEC wanted to stop investigating Tesla’s disclosure procedures.
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“When it comes to civil settlement, the transaction is a transaction and there is no far more compelling situation than the one presented here,” the SEC said.
Regulators will also destroy the subpoena requesting U.S. local judge Alison Nathan, who oversees the law, to record his Twitter investigation into whether to sell 10% of Tesla’s shares last November. Requested to decline the mask bid.
Musk lawyer Alex Spiro declined to comment. Tesla did not immediately respond to the request for comment. Legal experts say musk is unlikely to put the law aside.
Earlier on Tuesday, Musk oversaw the opening of Tesla’s first European factory near Berlin, where German Prime Minister Olaf Scholz attended and danced, joking with fans.read more
Tesla also has a factory in Shanghai. According to Forbes magazine, the company has made Mask the wealthiest person in the world.
The SEC’s dispute stems from regulators’ allegations that Musk deceived investors on August 7, 2018.
Tesla and Musk each settled by paying a $ 20 million civil fine, and Musk resigned as Tesla’s chairman.
Since then, Musk has investigated the SEC “not roving and detained” in a malicious effort to criticize the government and punish him for exercising his right to free speech under the First Amendment. He accuses him of harassing him.read more
However, the SEC said it has broad authority and “legitimate purpose” to investigate Mask and Tesla, and that Mask can only oppose the subpoena through the enforcement measures of the subpoena.
“Musk has complained about the” huge number of demands “by the SEC from 2018 to the present. This is what he characterizes as harassment, “the SEC said.
“But Musk’s own chronology of alleged demands is overwhelming and reflects a legitimate investigation into new potentially violent acts by Tesla and Musk,” he added.
The subpoena associated with Musk’s tweet was to offload 10% of Tesla’s stock if the user approves.
The majority did, and polls caused Tesla’s stock price to fall. Since then, Musk has sold over $ 16 billion in Tesla shares.
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Report by Jonathan Stempel in New York. Additional reports by David Shepardson in Washington, DC, Hyun Joo Jin in San Francisco, Victoria Waldersee and Nadine Schimroszik in Grünheide, Germany.Edited by Jonathan Oatis
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