Posted on 05/12/2022 5:10:43 AM PDT by Red Badger
Democrat President Joe Biden’s administration has launched an investigation into Elon Musk over the dealings surrounding his purchase of Twitter.
Biden’s Securities and Exchange Commission (SEC) is investigating Musk after he secured a deal to buy the social media company for $44 billion.
According to a new report in the Wall Street Journal, the SEC is probing the paperwork filed by Musk while he was putting his deal into place.
“The Securities and Exchange Commission is probing Mr. Musk’s tardy submission of a public form that investors must file when they buy more than 5% of a company’s shares,” The WSJ reports.
“The disclosure functions as an early sign to shareholders and companies that a significant investor could seek to control or influence a company.”
The report said that Musk’s April 4 disclosure filing was at least 10 days late, a move that is believed to have saved him more than $140 million because share prices could have been higher if the public knew about his ownership of 5% of the company.
“The case is easy. It’s straightforward,” Daniel Taylor, a University of Pennsylvania accounting professor, said.
“But whether they’re going to pick that battle with Elon is another question.”
The report noted that a lawsuit against Musk from the SEC would likely not stop him from taking over Twitter since the company’s board of directors unanimously approved to be acquired by Musk and the SEC may lack the power to do so.
Musk’s purchase of Twitter is also reportedly being reviewed by the Federal Trade Commission (FTC).
The news has emerged almost immediately after Musk said this week that he will reverse Twitter’s permanent ban on President Donald Trump if and when the sale is finalized.
“I think that was a mistake because it alienated a large part of the county, and did not ultimately result in Donald Trump not having a voice,” Musk said, adding that the decision was “morally bad.”
“That doesn’t mean that someone gets to say whatever they want to say,” Musk said.
“If they say something that is illegal or destructive to the world, then there should be perhaps a timeout, temporary suspension, or that particular tweet should be made invisible or have very little traction.”
“I would reverse the permanent ban,” Musk added.
Musk indicated that action could be taken against an account if there were tweets that violated platform policy, which he said, “should be either deleted or made invisible, and a suspension—a temporary suspension—is appropriate, but not a permanent ban.”
Musk said that permanent bans “should be extremely rare and really reserved for accounts that are bots, or scam, spam accounts.”
Big guy runs the FCC too, holding up Starship hardcore.
Scott manley is a big lib if anyone knows of him and scoffed at that idea. Total clown.
10 to 1 you voted for Jeb! in the 2015 primaries like a good little lefty BushBot.
Why...that is what happened on Jan 6. What is even weirder is that idiot l lin wood was talking about hanging Pence egging on his followers..one of which was the woman who got shot.
You keep advocating that the seige and the antics were acceptable and anyone who says differently is some kind of traitor
Nope..and there are a lot of posts from me mocking Jeb. You really are an idiot. Enjoy the watch list...
You have proven what you are and it is beneath contempt. Enjoy your slavery of the mind.
Yep..I fully admit I am not part of those that believe in sieging the Capitol..stealing laptops.. and screaming Hang Pence
Significant investor could seek to control or influence a company.
Big deal just about every news outlet in the country is operated that way.
VA Lt. Gov. Sears Blasts AG Garland over Protests Outside of SCOTUS Justices’ Homes — ‘This Is Mob Rule’
Thursday on FNC’s “Fox & Friends,” Virginia Lt. Gov. Winsome Sears (R) called on Attorney General Merrick Garland to “do his job” and prosecute pro-choice protesters outside of the homes of U.S. Supreme Court justices.
Sears, noting that Garland moved to arrest parents for speaking out at school board meetings, accused Democrats of picking and choosing who they went after. She asserted that allowing the protests over the potential overturning of Roe v. Wade was “mob rule.”
Source: https://www.breitbart.com/politics/2022/05/12/va-lt-gov-sears-blasts-ag-garland-over-protests-outside-of-scotus-justices-homes-this-is-mob-rule/
You are an out and out flat out idiot.
Why don’t you back up your insane accusations by go finding posts by me that support Jeb Bush. FIND ONE. I MEAN JUST ONE
just because you make insane accusations doesn’t make them true.
try this thread
https://freerepublic.com/focus/news/3513571/posts?q=1&;page=1
or this one
https://freerepublic.com/focus/news/3456129/posts?page=2#2
That is one dog you do NOT wish to pick a fight with, Joe.
Musk can play 3-D chess all day long while JOE can barely play pick up sticks.
Legalism is for foolish idiots.
I should clarify my last comment. Legalism is for tyrants to used as a weapon and for idiots to succumb to. 😘
"Listen, and understand. That terminator is out there. It can’t be bargained with. It can’t be reasoned with. It doesn’t feel pity, or remorse, or fear. And it absolutely will not stop, ever, until you are dead."
Shame the GOP can't attend...
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