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SEC Poised to Seek Enforcement Action Barring Elon Musk From Holding Executive Positions (thedeepdive.ca)

submitted 6 months ago by [email protected] to c/[email protected]

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[–] [email protected] 19 points 6 months ago* (last edited 6 months ago)

Experts believe the SEC faces significant challenges if it proceeds with fraud charges. “Courts typically prefer fraud cases that involve clear false statements,” said Fagel. “Transforming a regulatory violation into fraud, especially one involving delayed disclosure, can be an uphill battle.”

James Park, a securities law expert at UCLA, added, “Regulators could potentially frame this as a case of market deception, which complicates matters compared to straightforward falsehoods. It’s a nuanced issue but significant enough to warrant serious consideration.”

The biggest thing in their favor is a firefighters pension that sold at a lower than expected price if he had made the disclosure. They're not wrong, but it's a lie of omission type thing. We'll see if it flies over the next 5 years of appeals and shenanigans. Meanwhile he wrote himself a check on Tesla stockholders dime to cover the Twitter fuck up. I'm betting he fucks them over as Tesla spirals into a crater.