Elon Musk accuses the SEC of illegally leaking details of its Tesla investigation
2 years, 10 months ago

Elon Musk accuses the SEC of illegally leaking details of its Tesla investigation

CNN  

New York CNN Business — Tesla CEO Elon Musk is escalating his battle with the Securities and Exchange Commission, accusing a staff member of illegally leaking the results of an investigation. Musk has criticized the SEC for years, tweeting that it is the “Shortseller Enrichment Commission.” Last week Musk’s lawyers wrote to US Judge Alison Nathan of the Southern District of New York arguing that the SEC was continuing to target Musk because he “remains an outspoken critic of the government,” and that the ongoing investigations of his public comments constitute an “outsized effort” to “chill his exercise of First Amendment rights.” On Friday the agency, which serves as a watchdog for investors, responded with its own letter to the judge claiming it had done nothing improper. It came after an SEC probe of Musk’s tweet that he had “funding secured” to take Tesla private. Earlier this month Tesla’s annual financial filing disclosed that the company has received a subpoena from the SEC “seeking information on our governance processes around compliance with the SEC settlement.” That subpoena came days after Musk conducted a November Twitter poll asking if he should sell 10% of his shares and pledging to do so if a majority of respondents agreed, which they did. The company also disclosed in its filng that the SEC issued a subpoena to Tesla in December seeking “certain financial data and contracts including Tesla’s regular financial arrangements.” But Tesla said that the agency later notified the company that investigation had concluded.

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