this post was submitted on 07 Oct 2023
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Musk refused to testify in Twitter stock probe — After being sued by SEC, says he wants US regulators to be punished::After being sued by SEC, Musk says he wants US regulators to be punished.

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[–] [email protected] 161 points 1 year ago (2 children)

Have we given up pointing out that a billionaire's legal troubles are not technology?

[–] [email protected] 26 points 1 year ago

Pointing out won't do, we need moderation.

[–] [email protected] 80 points 1 year ago

Any normal person would at some point be arrested. Stop coddling billionaire babies like Elon and get it done already.

[–] [email protected] 74 points 1 year ago (1 children)

Seems simple enough. He refuses, find him guilty, take control of any assets in the United States, and deport him. I don't see the issue.

[–] [email protected] 33 points 1 year ago (1 children)

That would be uncharacteristic behaviour towards oligarchs for the US though.

[–] [email protected] 18 points 1 year ago

The US cucks for money.

[–] [email protected] 61 points 1 year ago (1 children)
[–] [email protected] 46 points 1 year ago

God complex right here.

[–] [email protected] 25 points 1 year ago (1 children)
[–] [email protected] 7 points 1 year ago (1 children)

oh man I haven't heard that word in awhile, I need to use it again!

[–] [email protected] 5 points 1 year ago (1 children)

I love to use "Chucklefuck."

[–] [email protected] 2 points 1 year ago

I think I'll try "Fucklechuck" a time or two, see how it feels.

[–] [email protected] 17 points 1 year ago

I mean, this strategy of attacking people who try to hold him accountable has more or less worked for Trump so far (I'll believe the justice system works when I see him behind bars) so why not. Musk is just another Trump really.

[–] [email protected] 16 points 1 year ago

Ah, the trump method.

[–] [email protected] 14 points 1 year ago (1 children)

This is the best summary I could come up with:


The US Securities and Exchange Commission sued Elon Musk yesterday, alleging that he refuses to appear for testimony in an investigation into whether he violated federal law with his purchases of Twitter stock.

The SEC began its investigation in April 2022 after Musk acquired a 9 percent stake in Twitter and failed to disclose it within 10 days as required under US law.

A separate, ongoing class-action lawsuit alleges that Musk's late disclosure caused investors to sell Twitter stock at artificially low prices.

Musk's stock purchases occurred shortly before he struck a deal to buy Twitter outright.

"A comprehensive overhaul of these agencies is sorely needed, along with a commission to take punitive action against those individuals who have abused their regulatory power for personal and political gain.

Musk's refusal to testify "is hindering and delaying the SEC staff's investigation to determine whether violations of the federal securities laws have occurred," the agency said.


The original article contains 650 words, the summary contains 153 words. Saved 76%. I'm a bot and I'm open source!

[–] [email protected] 11 points 1 year ago* (last edited 1 year ago) (1 children)

along with a commission to take punitive action against those individuals who have abused their regulatory power for personal and political gain

I assume he followed up with evidence that was happening right, and didn't just say that and move on to the next outrageous comment, right?

/s

[–] [email protected] 6 points 1 year ago (1 children)

Yeah, of course, the guy who is doing everything wrong is absolutely on top of it this time.

[–] [email protected] 3 points 1 year ago* (last edited 1 year ago)
[–] [email protected] 12 points 1 year ago (1 children)

I hope he’s stripped of his billions. I hope he has to get a real job.

[–] [email protected] 4 points 1 year ago

Amazon warehouse is hiring

[–] [email protected] 6 points 1 year ago
[–] [email protected] 5 points 1 year ago* (last edited 1 year ago)

If you are rich enough, it's not called fraud but a business strategy.

[–] [email protected] 3 points 1 year ago

Yeah, uh, I don’t think it works that way. 

[–] [email protected] -5 points 1 year ago (1 children)

I like how they are saying that's its a bad thing he didn't want to testify. If I were in his shoes I would do the same thing. I can't imagine it would be unbiased.

I can't say I understand what his motivations are but it feels like there is a ton of Musk hate on lemmy. Someone should start a circlejerk

[–] [email protected] 7 points 1 year ago

There's a lot of Musk hate all over the Internet and irl, not just this site. For good reasons too, but I don't think the issue is that he didn't testify, it's because he wants regulators to be punished for enforcing regulations. That kind of attitude screams "I am above the law, punish these people so no one tries to hold me accountable again." to me.