Tag Archives: SEC

Engadget reports: The SEC officials investigating Elon Musk over his handling of the Twitter takeover seem to be growing more and more impatient with his legal antics. The two sides have been locked in a dispute over Musk’s refusal to testify in the investigation. Now, in a new filing, the SEC accuses Musk of trying to “misrepresent” the regulator’s investigation. …

Reuters reports: A federal judge ordered Elon Musk to testify again in the U.S. Securities and Exchange Commission’s probe of his $44 billion takeover of Twitter, giving the regulator and the billionaire a week to agree on a date and location for the interview. Judge Laurel Beeler’s order, issued on Saturday night, formalized a tentative ruling she made in December …

The Hill reports: The Securities and Exchange Commission’s (SEC) account on the platform formerly known as Twitter was breached Tuesday, the agency said, after it appeared to announce the approval of several bitcoin investment funds. The SEC’s account on X posted a message earlier Tuesday — featuring a picture of SEC Chairman Gary Gensler — announcing the approval of exchange-traded …

Ars Technica reports: Elon Musk yesterday appealed to the Supreme Court in a last-ditch effort to terminate his settlement with the Securities and Exchange Commission. Musk has claimed he was coerced into the deal with the SEC and that it violates his free speech rights, but the settlement has been upheld by every court that’s reviewed it so far. In …

Bloomberg News reports: Binance Holdings Ltd.’s Chief Executive Officer Changpeng Zhao arrived in Seattle federal court Tuesday to plead guilty to anti-money laundering charges under a sweeping deal worked out with the Justice Department designed to keep the company operating. Zhao agreed to step down as part of the settlement, which included the Treasury Department and the Commodity Futures Trading …

Ars Technica reports: Elon Musk’s attempt to avoid testifying in a Twitter stock-purchase investigation continued yesterday with Musk asking a court to block a subpoena issued by the Securities and Exchange Commission. Musk’s filing in US District Court for the Northern District of California claimed the SEC is “harassing” him, exceeding its authority to investigate, and making “overly burdensome” demands …

Axios reports: Digital World Acquisition Corp., the special purpose acquisition company that inked a deal to acquire former President Trump’s media and tech company, said on Monday that it has struck a tentative settlement with securities regulators. The SEC’s probe into the merger, which would result in Trump’s Truth Social becoming a publicly traded company, has delayed the deal considerably. …

Bloomberg News reports: US regulators are investigating Elon Musk’s role in shaping Tesla Inc.’s self-driving car claims, the latest effort by watchdogs to scrutinize the actions of the world’s second-richest person. The review is part of an ongoing Securities and Exchange Commission probe of the company’s statements about its Autopilot driver-assistance system. He personally directed the creation of a 2016 …

Via press release from the SEC: The Securities and Exchange Commission today charged Samuel Bankman-Fried with orchestrating a scheme to defraud equity investors in FTX Trading Ltd. (FTX), the crypto trading platform of which he was the CEO and co-founder. Investigations as to other securities law violations and into other entities and persons relating to the alleged misconduct are ongoing. …

Via press release from the SEC: The Securities and Exchange Commission today announced charges against Kim Kardashian for touting on social media a crypto asset security offered and sold by EthereumMax without disclosing the payment she received for the promotion. Kardashian agreed to settle the charges, pay $1.26 million in penalties, disgorgement, and interest, and cooperate with the Commission’s ongoing …

The Sarasota Herald-Tribune reports: Donald Trump removed himself from the board of his Sarasota-based social media company, records show, just weeks before the company was issued federal subpoenas by both the Securities and Exchange Commission and a grand jury in Manhattan. Trump, the chairman of Trump Media and Technology Group, was one of six board members removed on June 8, …

Axios reports: Federal securities regulators have expanded their investigation into the planned merger between a blank check acquisition company and former President Trump’s social media business, known as Truth Social, according to a Monday morning filing with the SEC. Why it matters: Truth Social’s financial prospects are heavily reliant on investment tied to the merger, which may never come to …

The Associated Press reports: Elon Musk is threatening to end his $44 billion agreement to buy Twitter, accusing the company of refusing to give him information about its spam bot accounts. Lawyers for the Tesla and SpaceX CEO made the threat in a letter to Twitter dated Monday that the social platform included in a filing with the Securities and …

Reuters reports: A federal judge has ruled that Tesla CEO Elon Musk’s 2018 tweets about having secured financing to take the company private were false, according to court filings by Tesla investors suing the billionaire over the tweets. The filing said that the court ruled April 1 that Musk’s 2018 tweets were “false and misleading.” The court “held that he …

CNBC reports: A group of Twitter shareholders are suing Elon Musk for allegedly failing to disclose he had bought a significant stake in the social media company in the right timeframe. The Tesla and SpaceX CEO revealed on April 4 that he had amassed a 9.2% stake in Twitter, leading shares to soar as investors viewed the move as a …

The New York Times reports: A Canadian steel industry billionaire illegally helped steer $1.75 million in donations to a pro-Trump super PAC and has agreed to pay one of the largest fines ever levied by the Federal Election Commission to settle the case, the commission said on Friday. The $975,000 fine will be paid by entities controlled by Barry Zekelman, …

The Verge reports: The latest court filing in Elon Musk’s battle to wrest back control of his Twitter account from the SEC includes a citation of the 2002 song Without Me by rapper Eminem. Yes, really. In the song, the rapper complains that “The FCC won’t let me be or let me be me so let me see/ They tried …

The Wall Street Journal reports: The publicly traded company that plans to merge with former president Donald Trump’s social media company is under investigation by two federal regulators, which have asked for stock trading information and communications. Digital World Acquisition Corp. disclosed in a Securities and Exchange Commission filing that it had received “certain preliminary, fact-finding inquiries” from the Financial …

The New York Times reports: A little-known Miami banker named Patrick Orlando had been discussing a deal with Mr. Trump since at least March, according to people familiar with the talks and a confidential investor presentation reviewed by The New York Times. That was well before his SPAC, Digital World Acquisition, made its debut on the Nasdaq stock exchange last …

CNBC reports: Jay Clayton, who has led the Securities and Exchange Commission for the past three and a half years that included a number of major changes in financial markets, said Monday he will step down at the end of the year. “Working alongside the incredibly talented and driven women and men of the SEC has been the highlight of …