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Elon Musk was sued on Tuesday by the Securities and Exchange Commission for having failed to timely disclose purchasing more than 5% of Twitter’s common stock in March 2022 — a parting shot at the mogul by lame-duck SEC boss Gary Gensler. In a complaint filed in Washington, DC, federal court, the SEC said the delay allowed Musk to continue buying Twitter shares at artificially low prices, allowing him to underpay by at least $150 million.A lawyer for Musk said the billionaire did nothing wrong and called the SEC case a “sham.”The SEC wants Musk — who has since rebranded...

NEWS: The SEC has sued Elon Musk in federal court over an alleged securities violation, according to a court docket. The SEC alleges Elon "committed securities fraud in 2022 by failing to disclose his ownership in Twitter and buying shares at “artificially low prices.” This lawsuit will likely go nowhere with a new head of the SEC about to come in

(The Center Square) – Years after a watchdog group raised ethics questions about a former top Securities and Exchange Commission director, the agency's inspector general issued a report on the matter, but has yet to release it publicly. Empower Oversight, a nonprofit organization dedicated to improving independent government oversight, raised questions about William Hinman, who served as director of the SEC's Division of Corporation Finance from May 2017 to December 2020. Empower Oversight obtained documents that it said showed Hinman may have violated federal ethics rules regarding conflicts of interest. The group's investigation resulted in a referral of evidence to...

The Securities and Exchange Commission has issued a "settlement demand" to Elon Musk, according to a Thursday social media post by the tech billionaire. The federal financial regulator is asking Musk to agree to terms including a fine, or "face charges on numerous counts" regarding "Certain Purchases, Sales and Disclosures of Twitter Shares." The SEC has been investigating whether Musk committed securities fraud in 2022 as he sold shares in Tesla and shored up a stake in social network Twitter, ahead of his leveraged buyout. The Securities and Exchange Commission has issued a "settlement demand" to Elon Musk, the tech...

John Solomon @jsolomonReports Breaking: Trump taps Paul Atkins to lead SEC From justthenews.com 12:30 PM · Dec 4, 2024

President-elect Donald Trump, keeping with his promise for a crypto-friendly administration, plans to nominate former SEC Commissioner Paul Atkins to head the agency, according to his Truth Social post. Currently the CEO at Patomak Global Partners, Atkins is a well-known veteran of the financial world and Republican political circles specifically. He had been widely expected to get the position as the nation’s top financial market regulator. If confirmed, Atkins would succeed Gary Gensler, a widely reviled figure in the digital currency community for his many efforts to clamp down on the $3.5 trillion crypto market. Trump has promised a easier...

Let's all be clear on one thing. Gary Gensler is evil. He should never again have a position of influence, power, or consequence. Any company, university, or organization that hires or works with him post-SEC is betraying the crypto industry and should be boycotted aggressively. This the only way to prevent this kind of misuse of government power from happening again in the future. Gensler’s behavior can't be explained away as a good faith mistakes. It was entirely thought out, intentional, and purposeful to fulfill his personal, political agenda at any cost. Even if this meant nuking an industry, tens...

President Trump on Thursday nominated former SEC Chairman Jay Clayton to be US Attorney for the Southern District of New York.“I am pleased to announce that Jay Clayton, of New York, the Chairman of the US Securities and Exchange Commission during my first term, where he did an incredible job, is hereby nominated to be the US Attorney for the Southern District of New York,” Trump said.

SEC Chairman Gary Gensler will resign as 33rd Chair of the US Securites and Exchange Commission by the end of December according to an anonymous source. Chair Gensler was appointed by President Joe Biden in 2021 ... Gary going to drop a new lawsuit the day before he resigns? And then take a high paying job at some crypto fund?

Jimmy Kimmel's attempt to sway Republicans with a 19 minute anti-Trump monologue has backfired with viewers. The talk show host delivered a special plea to those thinking of voting for the former president, in which he promised to avoid, 'liberal virtue signaling'. But the almost 20 minute rant ended up irritating some viewers so much they pledged to vote Trump anyway, just to spite Kimmel. The comedian used clips from the former president's speeches, interviews and rallies to try and illustrate several aspects he believes make Trump unfit to lead. 'Am I biased against Donald Trump? Yes,' Kimmel admitted. 'Do...

The Securities and Exchange Commission plans to seek sanctions against Elon Musk after he missed previously scheduled testimony for the regulator’s investigation into his $44 billion purchase of Twitter, according to a court filing.It was the second time the billionaire tech mogul skipped out on testifying for the probe of the acquisition of the social media site now known as X.“The Court must make clear that Musk’s gamesmanship and delay tactics must cease,” SEC attorneys wrote in the filing.

The U.S. Securities and Exchange Commission said it intends to seek sanctions against Elon Musk after he failed to appear and testify in court amid the agency's probe into his $44 billion takeover of Twitter, which he renamed X. The SEC is asking for a court order to show cause why the Tesla CEO and SpaceX owner should not be held in civil contempt after he said he wouldn't appear a mere three hours before the scheduled Sept. 10 testimony, Reuters reported, citing a filing in San Francisco federal court. Musk's actions violated a May 31 court order compelling his...

The U.S. Securities and Exchange Commission announced Tuesday it will be closing its Salt Lake office later this year. The news comes just a week after misconduct by commission prosecutors led to the dismissal of a civil fraud case against Utah cryptocurrency brokers and the awarding of $1.8 million in attorney fees."Companies were seized, assets were frozen and lives were upended" as a result of misconduct by SEC prosecutors, a federal judge said while dismissing a civil fraud case against Utah cryptocurrency brokers and awarding the brokers $1.8 million in attorney fees.

"Companies were seized, assets were frozen and lives were upended" as a result of misconduct by prosecutors for the U.S. Securities and Exchange Commission, a federal judge said while dismissing a civil fraud case against Utah cryptocurrency brokers and awarding the brokers $1.8 million in attorney fees. U.S. Chief District Judge Robert Shelby upbraided the commission, saying it recklessly used "layers of false statements" in a "gross abuse of power," saying their misrepresentations were "deeply troubling" and undermined the integrity of the judicial process, before dismissing its case May 28 and ordering payment of fees that will ultimately be financed...

Warren Buffett hasn’t found a lot to like in the stock market recently.In each of the last six quarters, Buffett has sold more stocks for Berkshire Hathaway (BRK.A) (BRK.B) than he bought. Last quarter, he sold off a big chunk of his Apple (NASDAQ: AAPL) position and the entirety of his Paramount Global (NASDAQ: PARA) investment. All told, he sold nearly $20 billion worth of stocks from Berkshire’s portfolio, and he bought less than $3 billion.Buffett lamented investment opportunities for Berkshire are few and far between as the company grows bigger. With a market cap of about $877 billion, there...

The auditing firm for Trump Media and the auditor's owner were charged with "massive fraud" by the Securities and Exchange Commission for work that affected more than 1,500 SEC filings...The auditor, BF Borgers CPA and its owner Benjamin Borgers, have agreed to be permanently suspended from practicing as accountants before the SEC, and also agreed to pay a combined $14 million in civil penalties, the SEC said.

The recent wave of violent protests and arrests at elite universities like Yale and Columbia have only confirmed for Scott Katz that he made the right decision to attend Elon University. The North Carolina college, where he is currently wrapping up his sophomore year, is a long way from his hometown of Lafayette Hill, the predominantly liberal Philadelphia suburb where the average home costs $610,000. Katz, who is Jewish, says the antisemitism that’s increasingly visible at colleges nationwide—especially in the Ivy League, and other elite institutions like Stanford and Berkeley—hasn’t even touched his campus. “I haven’t been affected by it...

Today, the New Civil Liberties Alliance launched a Complaint against the Securities and Exchange Commission (SEC) challenging the agency’s unconstitutional “Consolidated Audit Trail.” The CAT is the largest government-mandated mass collection of personal financial data in American history. Without any statutory authority, SEC is forcing brokers, exchanges, clearing agencies and alternative trading systems to capture and send detailed information on every investor’s trades in U.S. markets to a centralized database, which SEC and private regulators can access forever. NCLA is asking the U.S. District Court for the Western District of Texas to stop this unlawful, unprecedented seizure and mass surveillance...

The Securities and Exchange Commission (SEC) is illegally collecting data of every citizen who invests in the stock market, according to a new lawsuit. The New Civil Liberties Alliance (NCLA) filed the suit Tuesday against the SEC claiming that the agency, through its “Consolidated Audit Trail,” or “CAT,” program, is collecting mass amounts of personally identifiable data by forcing brokers, exchanges, clearing agencies and alternative trading systems to capture and send detailed information on every investor’s trades in U.S. markets to a centralized database. The Securities and Exchange Commission (SEC) is illegally collecting data of every citizen who invests in...

The U.S. Securities and Exchange Commission (SEC) on Thursday announced it will stay implementation of its final rule requiring companies to disclose their climate-related risks pending the results of a legal challenge from GOP-led states. The SEC said in its ruling the stay does not indicate an abandonment of the rule, which it will continue to defend against a court challenge from Republican attorneys general. “The Commission has determined to exercise its discretion to stay the Final Rules pending the completion of judicial review of the consolidated Eighth Circuit petitions,” the agency said in its order. “[The] Commission will continue...