SEC Fires Back at Elon Musk's Request to Lift Twitter Oversight
Musk has intensified his feud with the Securities and Exchange Commission in recent months.
Christian Marquardt - Pool/Getty Images
The Securities and Exchange Commission has words for Elon Musk, who has been aggressively feuding with the agency for years: Nice try. In court filings submitted on Tuesday, the commission’s attorneys refuted Musk’s claim that he has had to deal with an unreasonable “number of demands” from the SEC as part of a 2018 settlement that required monitoring of his Tesla-related tweets. Musk had sparked a kerfuffle after tweeting that he had secured funding to take the electric carmaker private at a price of $420 per share, a claim the agency said Musk knew “was uncertain and subject to numerous contingencies.” The war between regulators and the world’s richest man has only intensified since; in February it was reported that the SEC was investigating Musk and his brother over possible insider trading violations.
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