Elon Musk accuses SEC of ‘Leaking’ information from an Investigation

0
50

Elon Musk can not seem to stay out of the headlines, and his lawyer recently accused the Securities and Exchange Commission (SEC) of leaking information regarding a federal probe against him.

Musk’s attorney Alex Spiro said in a letter to U.S. District Judge Alison Nathan that the SEC was attempting to retaliate against Tesla’s CEO, but he did not specify what information the SEC may have released or to whom.

“It is becoming more evident that the Commission is attempting to retaliate against my clients for exercising their First Amendment rights—most recently by criticizing the Commission on the public docket and requesting this Court for relief,” Spiro wrote.

Musk claimed the SEC was harassing him by continuing its investigations against him, and that the agency was seeking to stifle his right to free expression in a letter sent only days before. According to CNBC, Musk also claimed that the SEC had failed to remit the $40 million penalties against Musk and Tesla to shareholders.

Last week, SEC Commissioner Steven Buchholz reacted to Musk’s charges by saying that the agency was making progress in distributing the $40 million and that a suggested plan for distribution will likely be given to the court for approval by the end of March.

Late last year, the SEC sent subpoenas to both Tesla and Musk. “The Commission specifically demanded documents concerning my clients’ compliance or non-compliance with Tesla’s disclosure controls and procedures, executive communications policy, external communications policy, other policies or procedures relating to public statements or communications by Tesla executives, or the final judgment or amended final judgment in SEC v. Musk, 1:18-cv-8865-AJN (S.D.N.Y.),” Spiro explained.

This is not the first time Musk has slammed a government organization. He dubbed the National Highway Traffic Safety Administration the “fun police” earlier this month when the government ordered Tesla to turn off its Boombox function while in drive, neutral, or reverse.

LEAVE A REPLY

Please enter your comment!
Please enter your name here