@Camille @easy_b @DC_Dude @ghoststrike @Duece
FCC NEEDS to STFU and go check what Elon doing on X and EVERYTHING Trump been saying on national airwaves before they go at SNL.
If she wins?
Kamala should do a little "revenge" tour too.
Well his PAC just got hit with a class action lawsuit and the SEC would like to speak to him.....His lil empire might be crumbling...
SEC Seeks Court Order Sanctioning Elon Musk for Testimony No-Show
Musk's attorney said reimbursing the SEC for duplicative travel would be a fair remedy, but an SEC lawyer said a deterrent was needed.
October 28, 2024 at 12:42 PM
4 minute read
Administrative Law
By Ellen Bardash
The SEC has asked a San Francisco federal court to sanction Elon Musk for failing to show up to testify about his 2022 acquisition of Twitter as scheduled in September.
Both SEC attorney Robin Andrews and Musk's attorney, Alex Spiro of Quinn Emanuel Urquhart & Sullivan, submitted
statements to the court on Friday.
Spiro said that reimbursing the SEC for counsel's duplicative travel expenses is a fair resolution, but Andrews argued that adding a finding that Musk violated a court order to appear is a needed deterrent.
The proposed sanctions in question are linked to testimony scheduled for Sept. 10, a date rescheduled from a year earlier, when Musk also did not appear. On Sept. 9, three SEC attorneys flew to Los Angeles but were allegedly informed by email the morning of Sept. 10 that Musk had flown to Florida for a SpaceX rocket launch and would not be testifying that day.
The SEC claims Musk knew of the launch and should have informed counsel of his change of plans more than three hours before he was scheduled to testify.
"Only after the SEC sought court intervention (again) and stated its intent to seek sanctions did Musk finally appear," the SEC's statement read. "The court should make clear that disregard for court orders comes with real consequences."
Spiro's statement says the rescheduling was due to an emergency, as the rocket launch was dependent on changing weather conditions and wasn't guaranteed to go forward until shortly before the launch was scheduled.
Musk has stipulated to pay just under $3,000 for the SEC's September travel expenses, which Spiro wrote is enough to resolve the issue without court intervention. A finding that Musk violated a court order isn't warranted on top of the reimbursement, Spiro wrote, because the court order in question stated testimony could be rescheduled with written consent, a requirement that had been met.
During a brief hearing on Sept. 27, U.S. District Judge Jacqueline Scott Corley confirmed Musk's deposition was rescheduled for Oct. 3. The latest filing confirms Musk showed up to testify for roughly four hours at the SEC's Los Angeles office on that date.
"As a practical matter, the answer is straightforward: there is no sound reason to decide whether Mr. Musk violated the court's order given that he has now complied with that order and offered all of the compensation the SEC seeks," Spiro wrote.
"Only ordering reimbursement of travel costs would not serve as a real deterrent for many individuals considering violating a court order—much less someone of Musk's extraordinary means," Andrews wrote. "Reimbursement of the SEC's travel costs is inadequate because it does not fully address Musk's conduct and is inconsequential to him."
The SEC first turned to the court seeking enforcement of its investigative subpoena in October 2023. In its petition to the court, the SEC indicated a private investigation into whether Musk's 2022 acquisition of what was then Twitter violated federal securities laws had been going on since April 2022, when Musk first announced he was seeking to acquire the company. A deal was ultimately reached Oct. 27, 2022.
The commission
claimed Musk had agreed in May 2023 to testify that September but said two days before the scheduled hearing that he would not be appearing, with part of his objection being to holding the hearing in San Francisco. Musk, according to the petition, refused the SEC's offer to have him instead testify in Fort Worth, Texas, in October or November 2023.
As of Oct. 28, Corley had not issued a ruling or scheduled a hearing on the sanctioning dispute.
SEC Seeks Court Order Sanctioning Elon Musk for Testimony No-Show
Musk's attorney said reimbursing the SEC for duplicative travel would be a fair remedy, but an SEC lawyer said a deterrent was needed.
October 28, 2024 at 12:42 PM
4 minute read
Administrative Law
Ellen Bardash
By Ellen Bardash
The SEC has asked a San Francisco federal court to sanction Elon Musk for failing to show up to testify about his 2022 acquisition of Twitter as scheduled in September.
Both SEC attorney Robin Andrews and Musk's attorney, Alex Spiro of Quinn Emanuel Urquhart & Sullivan, submitted statements to the court on Friday.
Spiro said that reimbursing the SEC for counsel's duplicative travel expenses is a fair resolution, but Andrews argued that adding a finding that Musk violated a court order to appear is a needed deterrent.
The proposed sanctions in question are linked to testimony scheduled for Sept. 10, a date rescheduled from a year earlier, when Musk also did not appear. On Sept. 9, three SEC attorneys flew to Los Angeles but were allegedly informed by email the morning of Sept. 10 that Musk had flown to Florida for a SpaceX rocket launch and would not be testifying that day.
The SEC claims Musk knew of the launch and should have informed counsel of his change of plans more than three hours before he was scheduled to testify.
"Only after the SEC sought court intervention (again) and stated its intent to seek sanctions did Musk finally appear," the SEC's statement read. "The court should make clear that disregard for court orders comes with real consequences."
Spiro's statement says the rescheduling was due to an emergency, as the rocket launch was dependent on changing weather conditions and wasn't guaranteed to go forward until shortly before the launch was scheduled.
Musk has stipulated to pay just under $3,000 for the SEC's September travel expenses, which Spiro wrote is enough to resolve the issue without court intervention. A finding that Musk violated a court order isn't warranted on top of the reimbursement, Spiro wrote, because the court order in question stated testimony could be rescheduled with written consent, a requirement that had been met.
During a brief hearing on Sept. 27, U.S. District Judge Jacqueline Scott Corley confirmed Musk's deposition was rescheduled for Oct. 3. The latest filing confirms Musk showed up to testify for roughly four hours at the SEC's Los Angeles office on that date.
"As a practical matter, the answer is straightforward: there is no sound reason to decide whether Mr. Musk violated the court's order given that he has now complied with that order and offered all of the compensation the SEC seeks," Spiro wrote.
"Only ordering reimbursement of travel costs would not serve as a real deterrent for many individuals considering violating a court order—much less someone of Musk's extraordinary means," Andrews wrote. "Reimbursement of the SEC's travel costs is inadequate because it does not fully address Musk's conduct and is inconsequential to him."
The SEC first turned to the court seeking enforcement of its investigative subpoena in October 2023. In its petition to the court, the SEC indicated a private investigation into whether Musk's 2022 acquisition of what was then Twitter violated federal securities laws had been going on since April 2022, when Musk first announced he was seeking to acquire the company. A deal was ultimately reached Oct. 27, 2022.
The commission claimed Musk had agreed in May 2023 to testify that September but said two days before the scheduled hearing that he would not be appearing, with part of his objection being to holding the hearing in San Francisco. Musk, according to the petition, refused the SEC's offer to have him instead testify in Fort Worth, Texas, in October or November 2023.
As of Oct. 28, Corley had not issued a ruling or scheduled a hearing on the sanctioning dispute.