Elon Musk is embroiled in legal issues with investors and the SEC, where a loss could cost him up to $150 million in profits. The SEC alleges his actions caused significant economic harm to investors, particularly impacting retirees. Musk contends the alleged savings are negligible compared to his purchase cost of Twitter. Political influences, particularly changes made during Trump's presidency, have altered how the SEC can conduct investigations, potentially hindering investor protections and slowing legal proceedings against violators like Musk.
A loss in the investors' and SEC's suits could force Musk to disgorge any ill-gotten gains from the alleged scheme, estimated at $150 million.
Under the Biden administration, the SEC alleged that Musk's violation resulted in substantial economic harm to investors selling Twitter common stock.
Musk's alleged $200 million in savings from the scheme was minimal compared to his $44 billion purchase price, but represents about two-thirds of a larger amount.
Trump's policy reversal affected SEC's ability to initiate probes, which could slow down investigations and reduce corporate fines for violations.
Collection
[
|
...
]