CoinVoice has recently learned that a U.S. federal judge dismissed the SEC's request for sanctions against Elon Musk due to his absence from testimony related to his $44 billion acquisition of Twitter.
Judge Jacqueline Scott Corley ruled that Musk should not be sanctioned for his testimony on October 3 and ordered the SEC to reimburse $2,923 in travel expenses. The SEC argued that Musk violated the May 31 order and sought stronger deterrents, but Corley found the issue to be without merit.
Musk attributed his absence on September 10 to overseeing the Polaris Dawn mission for SpaceX.
The SEC's investigation aims to determine whether Musk delayed disclosing his purchase of Twitter stock in 2022, which may have violated securities laws. Critics argue that this delay allowed Musk to buy the company's shares at a lower price before disclosing his 9.2% stake.
Musk previously acknowledged a misunderstanding of SEC rules. He had reached a settlement with the SEC in 2018 over Tesla-related tweets. The case is still being heard in the Northern District of California. (Bitcoin.com) [Original link]
