Home Correction letter Musk accuses SEC of ‘relentless harassment’ in letter to judge

Musk accuses SEC of ‘relentless harassment’ in letter to judge

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Tesla (NASDAQ:TSLA) and its CEO, Elon Musk, have accused the U.S. Securities and Exchange Commission (SEC) of harassing them with an “endless” and “relentless” investigation. The accusation came in a letter to U.S. District Judge Alison Nathan, accusing the SEC of trying to punish Musk for openly criticizing the government.

Judge Nathan in Manhattan presided over an SEC settlement in 2018 following Musk’s tweet about a potential takeover of Tesla. Tesla and Musk have agreed to pay $20 million each in civil fines and let Tesla’s attorneys pre-screen some of Musk’s communications, including tweets that could affect Tesla’s stock price. You’re here. Musk has also given up the presidency of Tesla.

The letter follows Tesla’s disclosure on Feb. 7 that it had received a subpoena from the SEC regarding its compliance with the 2018 settlement.

“Mr. Musk and Tesla respectfully request a course correction,” wrote Alex Spiro, attorney for Musk and Tesla. “Enough is enough.”

The letter accuses the SEC of ignoring its commitments and “devoting its formidable resources to endless and baseless investigations” into Elon Musk.

“Worst of all, the SEC appears to be targeting Mr. Musk and Tesla for relentless investigation, in large part because Mr. Musk remains a vocal critic of the government; the SEC’s overreaching efforts appear calculated to chill his exercise of corporate rights. first amendment,” Spiro wrote. .

It was also announced Thursday that the National Highway Traffic Safety Administration (NHTSA) is investigating 416,000 Tesla vehicles following reports of unexpected brake activation.

By Michael Elkins | [email protected]