Elon Musk could be made to testify in Twitter sale investigation

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.

Tesla's Musk in China as rivals reveal new electric cars at Beijing auto show

Musk is viewed in China as a favourable contrast to the stern statements from US officials, particularly during the recent visit by US Secretary of State Antony Blinken.

Elon Musk targets Australian senator, gun laws in deepening dispute over X attack posts | Oneindia

Elon Musk found himself in the crosshairs of controversy once again as he clashed with Australian authorities over content censorship on his platform, X. The dispute stemmed from a court order instructing X to remove video posts depicting a violent incident involving an Assyrian bishop. Musk, known for his outspoken nature, accused Australian leaders of attempting to stifle internet freedom, drawing condemnation from lawmakers. #ElonMusk #AnthonyAlbanese #ElonMuskVsAustralia #XStabbingPosts #PostCensorship #Australia #SenatorTargeted #XDispute #SydneyChurchStabbing #CensorshipBattle #GunLawsDebate #InternetFreedom #ContentRegulation #LegalChallenge ~PR.152~ED.101~GR.122~

Elon Musk accuses Australia of censorship

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

SEC's New Climate Disclosure Rules Facing Multiple Lawsuits

SEC's New , Climate Disclosure Rules , Facing Multiple Lawsuits. 'Newsweek' reports that both industry and environmental groups have legally challenged the Securities and Exchange Commission over new rules. . The new rules require some businesses to disclose information about climate risks, including direct greenhouse gas emissions and risks from extreme weather. The SEC rules, which were approved on March 6 by a 3-2 vote, also require companies to provide investors with context on how those companies plan on managing those risks. Some requirements were pared back prior to the rules being approved. Those rules include reporting on Scope 3 emissions which relate to the company's supply chain. In response to the new rules, two fossil fuel producing companies filed lawsuits accusing the SEC of burdening companies and exposing them to potential litigation. 19 state attorney generals have also filed lawsuits claiming that the new rules exceed the SEC's legal authority. On the other side, environmental groups the Sierra Club Foundation and Earthjustice announced their own lawsuits accusing the SEC of watering down rules to protect investors. Sierra Club has millions of members and supporters who have investments in the market. It's really critical that we have access to information about climate risks that may be faced by the kinds of entities that we would hope to invest in, Andres Restrepo, Sierra Club Senior Attorney, via Newsweek. 'Newsweek' reports that the SEC rules were meant to take effect in 2026, however, the legal challenges are likely to result in delays. The new rules come as the U.S. Supreme Court has indicated plans to restrict the regulatory authority of environmental enforcement agencies.

Bitcoin Rallies on Hopes of Renewed Interest Among Mainstream Investors

Bitcoin Rallies, on Hopes of Renewed Interest , Among Mainstream Investors. On March 4, the price of Bitcoin broke $65,000, bringing it closer to returning to an all-time high reached in November 2021. NBC reports that the latest rally has been driven by hopes that the launch of bitcoin exchange- traded funds will expand bitcoin's pool of buyers. . In 2024, the cryptocurrency has gained over 48%, rapidly approaching its record intra-day all-time high of over $68,000. In January, Bitcoin ETFs were first approved by the Securities and Exchange Commission (SEC). . The SEC said the approval of the ETFs were meant to make it easier for investors to gain exposure to Bitcoin without having to actually own the digital coins. NBC reports that the world of crypto is also banking on a potential rally following a technical event known as "halving" scheduled to occur in April. This event will see the rate of supply for new bitcoin to decline, which could cause the value of the cryptocurrency to increase if demand remains unchanged. Some mainstream investment experts have still urged caution when it comes to investing in the controversial cryptocurrency. With equities, you own a share of a company that produces goods or services, and many also pay dividends. With bonds, you get a stream of interest payments, Vanguard statement, via NBC. Commodities are real assets that meet consumption needs, have inflation- hedging properties, and can play a role in certain portfolios, Vanguard statement, via NBC. While crypto has been classified as a commodity, it’s an immature asset class that has little history, no inherent economic value, no cash flow, and can create havoc within a portfolio, Vanguard statement, via NBC