Tesla and Elon Musk are locked into a legal battle against the US Securities and Exchange Commission (SEC), a long one for the company. Musk admitted that he too is building a case against the federal agency as much as they are doing their job in bringing the fight to the Tesla camp.
The CEO intends to finish the legal altercation and emerge victoriously.
Tesla, Elon Musk: Building a Case Against the SEC
A Twitter user claimed online that Musk and Tesla have been building a case against the SEC, and they have enough evidence against the agency regarding this legal battle. The user's statement got confirmation as Elon Musk answered that his camp has indeed been building a case against the agency.
Building a case is exactly what I’ve been doing
— Elon Musk (@elonmusk) February 23, 2022
Musk and Tesla are both going against the SEC now, and the legal fight is on a roll. The CEO did not discuss their case against the SEC to his statement, but it may be something heavy or substantial as the tech billionaire seems to be confident with his stand on the issue.
Nevertheless, other supporters or users online want Musk to tread carefully, as he might lose this one against the agency.
Elon Musk Intends to Finish Fight with the SEC
I didn’t start the fight, but I will finish it.
— Elon Musk (@elonmusk) February 23, 2022
Musk seems confident with his camp's case against the SEC, and this is because he said that he intends to finish it when the time comes. The CEO's words sound like he has something he did not yet publicize, and it would be a significant help to their legal battle with the SEC, something that will change the case's track soon.
Elon Musk vs. SEC: Many Issues with the Agency
The tech CEO has been under monitoring the SEC for a long time already. This is because of the billionaire's actions on social media about the many businesses and ventures. There was one time that Musk was under monitoring from the SEC because of his Dogecoin tweets, and it promoted the cryptocurrency that affected its performance in the market.
The current case focused on its battle with Tesla and the CEO for the clean energy company's failure to monitor Musk's tweets over the past months that it has been on probation. The CEO is not allowed to do what he had done before, especially when he implicated on social media that his company is going private, a violation of SEC laws.
Allegedly, Musk continued to mock the SEC through his Twitter account even after the settlement.
US's SEC and Musk have a long and deep history that stems from the early part of Tesla's operations and how the CEO acts on his own or his will. There have been different cases and issues between both camps, and they focus on getting each other now, especially with the CEO saying that their base is also building a lawsuit against the commission.
Related Article: Elon Musk Says He'll Visit IRS in DC, Claims Paying Largest Tax in History-Sen. Warren Insists He Paid 'Zero'
This article is owned by TechTimes
Written by Isaiah Richard
