Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

BumRushDaShow

(144,279 posts)
Sat Nov 23, 2024, 07:25 AM Nov 23

US judge rejects SEC bid to sanction Elon Musk

Source: Reuters

November 22, 2024 7:59 PM EST Updated 11 hours ago


Nov 22 (Reuters) - A federal judge on Friday rejected the U.S. Securities and Exchange Commission's request to sanction Elon Musk after he failed to appear for court-ordered testimony for the regulator's probe into his $44 billion takeover of Twitter. U.S. District Judge Jacqueline Scott Corley in San Francisco said sanctions over Musk's Sept. 10 absence were unnecessary, after the world's richest person testified on Oct. 3 and agreed to pay the SEC's $2,923 of travel costs.

"Because the present circumstances forestall any occasion for meaningful relief that the court could grant, the SEC's request is moot," Corley wrote. The SEC had sought a declaration that Musk violated a May 31 court order to provide testimony. It said having only to repay travel costs would not deter many other people from ignoring court orders, "much less someone of Musk's extraordinary means."

Musk said he complied with the order by testifying on Oct. 3. He is worth $321.7 billion according to Forbes magazine. The SEC did not immediately respond to a request for comment after business hours. Lawyers for Musk did not immediately respond to similar requests.

Musk, whose businesses include electric car maker Tesla (TSLA.O) tab and rocket company SpaceX and who is the world's richest person, went to Florida's Cape Canaveral on Sept. 10 to oversee the launch of SpaceX's Polaris Dawn mission. The SEC is investigating whether Musk violated securities laws in early 2022 by waiting at least 10 days too long to disclose he had begun accumulating Twitter stock.

Read more: https://www.reuters.com/business/us-judge-rejects-sec-request-sanction-elon-musk-2024-11-22/

18 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies

pimpbot

(1,014 posts)
4. Appointed by Biden
Sat Nov 23, 2024, 08:17 AM
Nov 23

She seems pro-business. This is the problem. We appoint normal people at judges, they appoint crazy loons who don't care about the law.

"In 2023, Corley oversaw the lawsuit brought by the Federal Trade Commission (FTC) to block the acquisition of Activision Blizzard by Microsoft. In June 2023, Corley disclosed that her son was working for Microsoft at the time of the trial, which led judicial watchdog group the Revolving Door Project to issue an open letter to Corley arguing that her son's employment at Microsoft could create the "appearance of improper incentives" and might violate the federal Code of Conduct for US judges.[13] In July 2023, Corley ruled that the FTC hadn't proven that the deal would harm consumers. The case is still pending appeal and is yet to have a final verdict."

https://en.wikipedia.org/wiki/Jacqueline_Scott_Corley


Response to pimpbot (Reply #4)

Irish_Dem

(59,744 posts)
5. I wonder what the going rate is for buying a federal judge?
Sat Nov 23, 2024, 08:31 AM
Nov 23

Maybe we should start raising money to buy our own judges.

You know, buy a judge to actually do their damn jobs and enforce rule of law.

Irish_Dem

(59,744 posts)
8. They sell out our country and rule of law on the cheap.
Sat Nov 23, 2024, 08:37 AM
Nov 23

Doesn't cost much to buy these people.

onenote

(44,811 posts)
16. So that's the standard on DU now? If a Biden judge issues a ruling we don't like we assume they've been bought?
Sat Nov 23, 2024, 09:11 PM
Nov 23

Irish_Dem

(59,744 posts)
18. The American judiciary folded like a lawn chair for Trump.
Sun Nov 24, 2024, 06:31 AM
Nov 24

We saw it with our own eyes.

I assure you most of us here on DU are not stupid, contrary to your accusations.

We know a good or bad ruling when we see it.
And we have the capacity to make case by case decisions.

I don't care who appointed who.
We can tell the difference between good rulings and utter bullshit.

moniss

(6,155 posts)
9. Unfortunately I wasn't in the courtroom when
Sat Nov 23, 2024, 08:57 AM
Nov 23

she ruled because I would have taken immense pride in going to jail for standing up and saying to her "Well of course your honor and please forgive us citizens for all these years failing to understand that court dates aren't requirements but are mere suggestions."

Comfortably_Numb

(4,121 posts)
12. Besides, this is one that will go away when Musk, err trump takes over in January. Money well spent, Space Nazi.
Sat Nov 23, 2024, 09:24 AM
Nov 23

Karasu

(368 posts)
13. Pathetic.
Sat Nov 23, 2024, 04:50 PM
Nov 23

It really does feel like most all judges left in this country are toothless cowards or willfully compromised.

LudwigPastorius

(11,092 posts)
17. Musk paid $2,923 and it went away?
Sun Nov 24, 2024, 12:28 AM
Nov 24

That's equivalent to me paying 9/10,000ths of one cent to get the SEC to drop sanctions.

Latest Discussions»Latest Breaking News»US judge rejects SEC bid ...