Elon Musk has accused the Securities and Exchange Commission (SEC) of politically motivated harassment in connection with an investigation into his 2022 acquisition of Twitter. The SEC set a short deadline for Musk to settle alleged securities violations related to the takeover, prompting Musk to publicly criticize the agency and demand to know who directed the actions. Musk has a history of clashing with government oversight, portraying himself as a victim of stifling bureaucracy.
FILE PHOTO: Elon Musk speaks with U.S. President-elect Donald Trump at a viewing of the launch of the sixth test flight of the SpaceX Starship rocket in Brownsville, Texas, U.S., November 19, 2024 Brandon Bell/Pool via REUTERS/File Photo
He added a smiley-face emoji but attached a legal letter condemning the “improperly motivated” ultimatum: “We demand to know who directed these actions—whether it was you or the White House.” Musk’s potential to have extraordinary clout with the new administration raises questions about the fate of federal investigations and regulatory actions affecting his business empire, of which at least 20 are ongoing, according to three sources familiar with SpaceX and Tesla operations and the companies’ interaction with the U.S. government, as well as five current and former officials who have direct knowledge of individual probes into Musk’s companies.
The Musk-related cases could languish or be dropped by Trump-appointed agency and department heads, the current and former U.S. officials said. It’s also possible that prosecutors who believe they have strong cases will push forward regardless of Musk’s role, legal experts said. Musk has touted his newfound influence and given specific examples of how he might use it. Before the election, Musk said he would seek to use his efficiency-czar post to advance national driverless-vehicle regulations that would almost certainly benefit Tesla and eliminate “irrational” rules such as one resulting in a pollution fine against SpaceX.
Another probe, by the U.S. attorney’s office in Manhattan, involves the driving range of Tesla vehicles and followed a Reuters investigation that found the automaker had rigged its in-dash displays to give drivers “rosy” projections about how many miles they could drive on battery power. It was unclear how far the probe has progressed.
Elon Musk SEC Twitter Takeover Political Harassment
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