A federal judge’s rejection of a demand by the Securities and Exchange Commission that it be allowed to sanction billionaire and Trump BFF Elon Musk was met by a brutal smackdown of that agency by Musk on X, formerly known as Twitter.
The SEC demanded that Musk be interviewed about his takeover of Twitter. Apparently, Musk waited ten days too long to announce his intent to take control of Twitter.
The SEC is investigating whether Musk violated securities laws in early 2022 when he started accumulating Twitter stock.
Musk has been criticized, including by Twitter shareholders, for waiting at least 10 days too long to disclose he was buying Twitter shares.
Investors must disclose when they reach 5% ownership of public companies. Musk eventually disclosed a 9.2% Twitter stake, and soon thereafter offered to buy the whole company.
The interview was scheduled for…
