SEC Sues Elon Musk Over Baseless Securities Fraud

The head of SEC, jewish Gary Gensler, has filed a lawsuit against Elon Musk.

He’s accusing him of securities fraud over his failure to disclose his 2022 stake in Twitter.

Allegedly this allowed him to buy shares at unfairly low prices.

Low? Musk acquired Twitter for $44 billion when it was said to be worth around $30 billion?

That doesn’t make any sense.

Even Musk knows this makes no sense.

Exactly (groan)

— Elon Musk (@elonmusk) January 15, 2025

But then, this is Gensler we’re talking about.

Gensler claims Musk violated this rule, buying shares at a $150 million discount by delaying the disclosure.

It seems Musk doesn’t have a fan in Gensler.

Is Gensler not a fan of free speech? Why not?

🚨NEW: Elon Musk sued over Twitter purchase securities violations. The Biden SEC wanted to get one last jab in while they still could. pic.twitter.com/jtnPAo7yz6

— Autism Capital 🧩 (@AutismCapital) January 14, 2025

CNBC reports:

The SEC filed a lawsuit against Elon Musk on Tuesday, alleging the billionaire committed securities fraud in 2022 by failing to disclose he had amassed an active stake in Twitter, a secrecy that allowed him to buy shares at “artificially low prices.”

Musk, who is also CEO of Tesla and SpaceX, purchased Twitter for $44 billion in late 2022 and changed the name to X the following year. Prior to the acquisition, he’d built up a position in the company of greater than 5%, which would’ve required disclosing his holdings to the public within 10 calendar days of reaching that threshold.

According to the SEC’s civil complaint, filed in U.S. District Court in Washington, D.C., Musk was more than 10 days late in reporting that material information, “allowing him to underpay by at least $150 million for shares he purchased after his financial beneficial ownership report was due.” Investors may have bid up the stock had they known about Musk’s purchases and interest in the company.

The SEC had been investigating whether Musk, or anyone else working with him, committed securities fraud in 2022 around the Twitter disclosures. Musk said in a post on X last month that the SEC issued a “settlement demand,” pressuring him to agree to a deal, including a fine within 48 hours or “face charges on numerous counts” regarding the purchase of shares.

Thank God this Penguin will step down when President Trump shows up.

Not like that will protect him.

🚨BREAKING🚨

GARY GENSLER WILL RESIGN
AS SEC CHAIRMAN IN 17 DAYS.

BULLISH FOR CRYPTO 🚀 pic.twitter.com/pnZ2VaOL5f

— Ash Crypto (@Ashcryptoreal) January 4, 2025

Seems Musk has been on the Dem’s radar for a few years now…

BREAKING: Biden's SEC suing Elon Musk over Twitter acquisition just days before Gensler, Biden leave their positions.

Biden predicted this 2 years ago: pic.twitter.com/4tTM3YiAiw

— End Wokeness (@EndWokeness) January 14, 2025

I wonder why they don’t like Musk?

Is it because they want the monopoly on what people are allowed to discover via the news?

Elon Musk has been constantly attacked the SEC. He told the SEC to check the people shorting Tesla and they never did.

They are completely bias and hate Elon/Tesla.
pic.twitter.com/8xHgaFFSTN

— Tesla Owners Silicon Valley (@teslaownersSV) January 14, 2025

Gensler has a history of attacking Democrat’s enemies?

What a shocker. And he looks like such a nice Commie.

Joe Biden’s Head of The SEC Gary Gensler is suing Elon Musk over his Twitter acquisition

Gary Gensler has a LONG history of weaponizing The SEC against Democrat’s political enemies. In fact, it got so bad JD Vance had to threaten Gary Gensler over it

Here’s JD Vance threatening… pic.twitter.com/aAg7XuwVDg

— Wall Street Apes (@WallStreetApes) January 15, 2025