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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[–] atx_aquarian@lemmy.world 160 points 1 year ago (2 children)

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

[–] hardware26@discuss.tchncs.de 26 points 1 year ago

Pointing out won't do, we need moderation.

[–] TwoGems@lemmy.world 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.

[–] Grant_M@lemmy.ca 61 points 1 year ago (1 children)
[–] Gazumi@lemmy.world 45 points 1 year ago

God complex right here.

[–] TallonMetroid@lemmy.world 25 points 1 year ago (1 children)
[–] stefenauris@pawb.social 7 points 1 year ago (1 children)

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

[–] BrudderAaron@lemmy.world 5 points 1 year ago (1 children)

I love to use "Chucklefuck."

[–] Jerkface@lemmy.world 2 points 1 year ago

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

[–] poprocks@lemmy.world 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.

[–] Gingerlegs@lemmy.world 16 points 1 year ago

Ah, the trump method.

[–] autotldr@lemmings.world 13 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!

[–] otter@lemmy.ca 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

[–] GALM@lemmy.world 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.

[–] otter@lemmy.ca 3 points 1 year ago* (last edited 1 year ago)
[–] captainlezbian@lemmy.world 12 points 1 year ago (1 children)

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

[–] EtherWhack@lemmy.world 4 points 1 year ago

Amazon warehouse is hiring

[–] someguy3@lemmy.world 6 points 1 year ago
[–] Buffalox@lemmy.world 5 points 1 year ago* (last edited 1 year ago)

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

[–] gregorum@lemm.ee 3 points 1 year ago

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

[–] possiblylinux127@lemmy.zip -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

[–] TheLadyAugust@lemmy.world 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.