Vince McMahon Sells $400+ Million Worth Of TKO Stock Amid WWE Scandal

Elon Musk Loses Appeal of 'Twitter Sitter' Provision

Elon Musk , Loses Appeal of , 'Twitter Sitter' Provision . On April 29, the Supreme Court denied billionaire Elon Musk's challenge to the terms of a Securities and Exchange Commission agreement. . On April 29, the Supreme Court denied billionaire Elon Musk's challenge to the terms of a Securities and Exchange Commission agreement. . NBC reports that the SEC requirement would require a lawyer to review the Tesla CEO's social media posts. . In his appeal, Musk argued that the SEC's requirement, which has been dubbed the 'Twitter sitter' provision, unlawfully imposed conditions on his freedom to comment. . In his appeal, Musk argued that the SEC's requirement, which has been dubbed the 'Twitter sitter' provision, unlawfully imposed conditions on his freedom to comment. . The SEC requirement stems from Musk's tweets in 2018 that claimed he was taking Tesla private, which shocked the market and caused shares in the company to surge. The SEC requirement stems from Musk's tweets in 2018 that claimed he was taking Tesla private, which shocked the market and caused shares in the company to surge. The SEC deemed the tweets "materially false and misleading," and in clear violation of securities laws. At the time, Musk agreed to settle the issue with the SEC, which included his signing off on the so-called "Twitter sitter" provision. NBC reports that Musk has since said the restrictions are unconstitutional and that he was coerced into signing the SEC agreement. According to court papers, lawyers representing Musk have accused the SEC of waging an "ongoing campaign" against Musk. Musk's legal team claim the provision , "restricts Mr. Musk’s speech even when truthful and accurate.". It extends to speech not covered by the securities laws and with no relation to the conduct underlying the SEC’s civil action, Elon Musk legal team, via NBC. In response, the SEC said in court papers that Musk waived his right to appeal when he signed off on the settlement.

Trump’s Social Media Company Sues Co-Founders

Trump’s Social Media Company , Sues Co-Founders. Trump Media & Technology Group filed a lawsuit against co-founders Wesley Moss and Andrew Litinsky on March 24, ABC News reports. The suit came two days before shareholders approved a merger that allowed the company to begin trading on the Nasdaq. The lawsuit alleges that the two men "failed spectacularly" to lead the company and made "reckless and wasteful decisions" that resulted in "significant damage.". Trump Media wants the co-founders to give up their shares of the company, among other things. . TMTG has been forced to file this action to remedy the harm inflicted upon it by two faithless fiduciaries and a company they own -- Wesley Moss, Andrew Litinsky, and [United Atlantic Ventures] -- and to halt their ongoing attempts to do even more damage, Via lawsuit. Moss and Litinsky's company, United Atlantic Ventures, owns 5.5% of Trump Media, according to the SEC. That amounts to 7,525,000 shares which are worth about $388 million. Donald Trump's stake in the company is currently valued at over $4 billion. Since going public last week, the stock has been very volatile. . At one time, shares peaked over $79. On April 1, they plunged by 21%. Shares recovered slightly on April 2

SEC Permitted to Sue Coinbase for Offering Unregistered Securities

SEC Permitted to Sue Coinbase , for Offering Unregistered Securities. U.S. District Judge Katherine Polk Failla has ruled that the Securities and Exchange Commission's (SEC) lawsuit against Coinbase can proceed, The Verge reports. . The SEC has sufficiently pleaded that Coinbase operates as an exchange, as a broker, and as a clearing agency under the federal securities laws, , U.S. District Judge Katherine Polk Failla, via ruling. ... and, through its Staking Program, engages in the unregistered offer and sale of securities, U.S. District Judge Katherine Polk Failla, via ruling. The judge rejected arguments that existing laws are inadequate when it comes to crypto. . The judge rejected arguments that existing laws are inadequate when it comes to crypto. . The ‘crypto’ nomenclature may be of recent vintage, but the challenged transactions fall comfortably within the framework that courts have used to identify securities for nearly eighty years, U.S. District Judge Katherine Polk Failla, via ruling. Coinbase chief legal officer Paul Grewal took to X to respond to the ruling. . Coinbase chief legal officer Paul Grewal took to X to respond to the ruling. . Early motions like ours against a government agency are almost always denied. , Paul Grewal, Coinbase chief legal officer, via X. But clarity is the ultimate goal and today’s decision continues us on that path, Paul Grewal, Coinbase chief legal officer, via X. Looking ahead, we remain confident in our legal arguments, we look forward to proving we’re right, , Paul Grewal, Coinbase chief legal officer, via X. ... we are eager for the opportunity to take discovery from the SEC for the first time, and we appreciate the Court’s continued consideration of our case. , Paul Grewal, Coinbase chief legal officer, via X