TECH - Elon Musk Fires Back As SEC Sues Him Over Twitter Stock Drama: 'Comprehensive Overhaul Of These Agencies Sorely Needed' | Benzinga
On Thursday, the U.S. Securities and Exchange Commission or SEC filed a lawsuit against Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk. The tech billionaire has now responded that a comprehensive overhaul of these agencies is sorely needed.
What Happened: In the lawsuit, the SEC accused Musk of failing to comply with a subpoena related to his 2022 Twitter stock purchase. The commission alleged that his refusal to testify hinders the SEC’s investigation into possible violations of federal securities laws.
Now, in response to an X (formerly Twitter) user and Spaces host Mario Nawfal’s post on the platform, Musk said, “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.”
In his post, Nawfal said, ...