2y ago

Musk refused to testify in Twitter stock probe — After being sued by SEC, says he wants US regulators to be punished

Musk refused to testify in Twitter stock probe, claimed SEC is harassing him

Musk refused to testify in Twitter stock probe — After being sued by SEC, says he wants US regulators to be punished::After being sued by SEC, Musk says he wants US regulators to be punished.

News @lemmy.world

MicroWave @lemmy.world

2y ago

Musk refused to testify in Twitter stock probe, claimed SEC is harassing him

arstechnica.com /tech-policy/2023/10/sec-sues-musk-saying-he-refuses-to-testify-in-twitter-stock-investigation/

Enough Musk Spam @lemmy.world

slin @feddit.de

2y ago

Musk refused to testify in Twitter stock probe — After being sued by SEC, says he wants US regulators to be punished

arstechnica.com /tech-policy/2023/10/sec-sues-musk-saying-he-refuses-to-testify-in-twitter-stock-investigation/

38 comments

Have we given up pointing out that a billionaire's legal troubles are not technology?
- Pointing out won't do, we need moderation.
- This billionaire's legal troubles are because Elon's decisions have impacts on all of us.
  
  Do they really, though?
  
  Imagine not using Twitter / not owning a Tesla / not using Starlink in 2023. /s
  
  So let’s put Trump’s legal problems in the tech community as well, because it impacts on all of us and he owns some companies that do tech.
  Elon isn’t technology. You can make a case that some of his companies are, but just because they can be argued as tech companies doesn’t make this tech news.
Any normal person would at some point be arrested. Stop coddling billionaire babies like Elon and get it done already.
Seems simple enough. He refuses, find him guilty, take control of any assets in the United States, and deport him. I don't see the issue.
- That would be uncharacteristic behaviour towards oligarchs for the US though.
  
  The US cucks for money.
Quacks like a Nazi
- There has been at least a dozen times, where Musk obviously quacked like a Nazi. This is not one of the most obvious ones, but overturning the establishment is in line with that kind of thinking.
  
  When moscow does it, it's projection. Remember, that muskovite is a moscow sympathizer/chaos operative.
God complex right here.
What a fuckwit.
- oh man I haven't heard that word in awhile, I need to use it again!
  
  I love to use "Chucklefuck."
I mean, this strategy of attacking people who try to hold him accountable has more or less worked for Trump so far (I'll believe the justice system works when I see him behind bars) so why not. Musk is just another Trump really.
Ah, the trump method.
This is the best summary I could come up with:
The US Securities and Exchange Commission sued Elon Musk yesterday, alleging that he refuses to appear for testimony in an investigation into whether he violated federal law with his purchases of Twitter stock.
The SEC began its investigation in April 2022 after Musk acquired a 9 percent stake in Twitter and failed to disclose it within 10 days as required under US law.
A separate, ongoing class-action lawsuit alleges that Musk's late disclosure caused investors to sell Twitter stock at artificially low prices.
Musk's stock purchases occurred shortly before he struck a deal to buy Twitter outright.
"A comprehensive overhaul of these agencies is sorely needed, along with a commission to take punitive action against those individuals who have abused their regulatory power for personal and political gain.
Musk's refusal to testify "is hindering and delaying the SEC staff's investigation to determine whether violations of the federal securities laws have occurred," the agency said.
The original article contains 650 words, the summary contains 153 words. Saved 76%. I'm a bot and I'm open source!
- along with a commission to take punitive action against those individuals who have abused their regulatory power for personal and political gain
  I assume he followed up with evidence that was happening right, and didn't just say that and move on to the next outrageous comment, right?
  /s
  
  Yeah, of course, the guy who is doing everything wrong is absolutely on top of it this time.
I hope he’s stripped of his billions. I hope he has to get a real job.
- Amazon warehouse is hiring
"no u"
If you are rich enough, it's not called fraud but a business strategy.
Yeah, uh, I don’t think it works that way.
I like how they are saying that's its a bad thing he didn't want to testify. If I were in his shoes I would do the same thing. I can't imagine it would be unbiased.
I can't say I understand what his motivations are but it feels like there is a ton of Musk hate on lemmy. Someone should start a circlejerk
- There's a lot of Musk hate all over the Internet and irl, not just this site. For good reasons too, but I don't think the issue is that he didn't testify, it's because he wants regulators to be punished for enforcing regulations. That kind of attitude screams "I am above the law, punish these people so no one tries to hold me accountable again." to me.

38 comments