PanamaTimes

Saturday, Apr 27, 2024

Elon Musk lawyer quotes Eminem lyrics in latest SEC legal filing

Elon Musk lawyer quotes Eminem lyrics in latest SEC legal filing

Billionaire Elon Musk's latest court filing in his legal battle against the Securities and Exchange Commission (SEC) quotes rapper Eminem.

In an effort to throw out his 2018 agreement with the top U.S. securities regulator requiring the Tesla, Inc. co-founder to obtain pre-approval for his tweets, Musk's lawyer Alex Spiro referenced the 2002 song "Without Me."

"The (SEC) won't let me be or let me be me so let me see; They tried to shut me down," he said.

Eminem's original lyrics swipe at the Federal Communications Commission (FCC).

"The FCC won’t let me be or let me be me so let me see/ They tried to shut me down on MTV," the rapper, whose real name is Marshall Mathers, wrote.

The FCC had tried to fine a Colorado radio station for playing Eminem's 2000 song "The Real Slim Shady;" the FCC ultimately relented.

Elon Musk, Tesla CEO, attends the opening of the Tesla factory Berlin Brandenburg in Gruenheide, Germany, Tuesday, March 22, 2022.


Musk's attorney noted that the "First Amendment requires that agencies proceed with caution when constitutional rights are at stake, not seek to pursue any and all novel theories that broaden their authority at the cost of individual freedom."

He also renewed efforts to reject an SEC subpoena for details on whether Musk and Tesla are complying with their disclosure requirements under the 2018 consent decree.

Spiro said the SEC issued its subpoena in bad faith and called requiring lawyers to vet Musk's tweets unconstitutional – a violation of the First Amendment.

In a February motion filed with the U.S. District Court in Manhattan, Musk and Tesla accused the SEC of targeting him with "unrelenting" investigations in an attempt to "chill his exercise of First Amendment rights."

Spiro also said that an Aug. 7, 2018, tweet that Musk had "funding secured" to potentially take the auto company private was truthful.

The regulator filed a lawsuit against Musk in 2018, claiming the statements in that tweet were "false and misleading" and that Musk "knew or was reckless in not knowing" that his statements were false and/or misleading.

Spiro has argued that the SEC cannot take action related to Musk's tweets without court authorization, emphasizing that the 2018 settlement was reached when Tesla was a less mature company.

The SEC – which is investigating a Nov. 6, 2021, tweet probing Musk's followers regarding whether he should sell 10% of his Tesla stake to cover tax bills on stock options – said Musk should not be excused from the agreement because he found compliance "less convenient than he had hoped."

They said earlier in March that they have the legal authority to subpoena Tesla and Musk, calling his challenge "frivolous."

The subpoenas, issued under seal, seek all written communications concerning the Nov. 6 tweets and whether they were shown to Tesla lawyers for pre-approval.

"Courts have long recognized that ‘Congress has vested the SEC with broad authority to conduct investigations into possible violations of federal securities laws and to demand production of evidence relevant to such investigations,’" SEC attorney Melissa Armstrong said.

Musk has said he felt pressured to settle with the commission because its action "stood to jeopardize the company’s financing," saying the agency has not yet distributed the fine money to Tesla shareholders as was required.

The SEC said it expected a plan to distribute the funds to receive court approval by the end of last month, according to The Verge.

Reuters reported that the case, SEC v Musk, U.S. District Court, Southern District of New York, No. 18-08865, is being overseen by U.S. District Judge Alison Nathan.

Fox Business' request for comment from the SEC was not immediately returned.

Newsletter

Related Articles

PanamaTimes
0:00
0:00
Close
Apple warns against drying iPhones with rice
In a recent High Court hearing, the U.S. argued that Julian Assange endangered lives by releasing classified information.
Global Law Enforcement Dismantles Lockbit Ransomware Operation
Russian opposition leader Alexey Navalny has died at the Arctic prison colony
The President of Argentina Javier Mile does not fly private, he flies commercial, with the citizens he represents. And they LOVE him for it.
Bitcoin Reaches $50,000 for First Time in Over Two Years
Belo Horizonte: Brazil's Rising Carnival Hotspot for 2024
In El Salvador, the 'Trump of Latin America' stuns the world with a speech slamming woke policing after winning a landslide election
Tucker’s interview with Putin is over 50M views on X within the first 5 hours.
Finnish Airline, Finnair, is voluntarily weighing passengers to better estimate flight cargo weight
President Nayib Bukele has proudly announced El Salvador's remarkable achievement of becoming the safest nation in the Western Hemisphere.
Former Chilean President Sebastian Piñera Dies in Helicopter Crash
This farmer seems to understand science a bit more than the event organizer, Klaus Schwab.
Facebook turns 20: From Mark Zuckerberg's dormitory to a $1trn company
The Coolest Dictator in the World" on the Path to Victory in El Salvador
Macron, France and fake news
Indian-Origin Man 'King' Arrested For Smuggling $16 Million Drugs Into US
Can someone teach Americans that not every person with slanted eyes is Chinese?
Europe's Farmers Feeding the People, Protesting Against Politicians Who Do Nothing for Their Country and Serve Only Themselves at Taxpayers' Expense
Paris Restaurant That Inspired 'Ratatouille' Loses $1.6 Million Worth Of Wine
Brazilian Police Investigate Bolsonaro's Son for Alleged Illegal Spying
Police in Brazil Raid Residence of Bolsonaro Associate Over Allegations of Illegal Spying
Border Dispute Escalates as Texas Governor Vows Increased Razor Wire
OpenAI Enhances ChatGPT-4 Model, Potentially Addressing AI "Laziness" Issue
The NSA finally acknowledges spying on Americans by acquiring sensitive data
Report Reveals Toxic Telegram Group Generating X-Rated AI-Generated Fake Images of Taylor Swift
US Border Patrol States 'No Plans' to Remove Razor Wire Installed in Texas
Bitcoin Experiences Approximately 20% Decline in Value
Klaus Schwab recently appointed himself as the Earth's "trustee of the future."
DeSantis Drops Out, Endorses Trump.
Nikki Haley said former President Trump is "just not at the same level" of mental fitness as he was while president in 2016.
Residents of a southern Mexican town set the government palace on fire in response to the police killing of a young man
Samsung Launches AI-Driven Galaxy S24, Ushering in New Smartphone Era
Judge Questions SEC's Regulatory Overreach in Coinbase Lawsuit
The Ecuador prosecutor who was investigating the television studio attack, has been assassinated.
Is artificial intelligence the solution to cyber security threats?
Vivek Ramaswamy suspends his US election campaign and endorses Trump.
Viral Satire: A Staged Satirical Clip Mistaken as Real Footage from the 2024 World Economic Forum in Davos
The AI Revolution in the Workforce: CEOs at Davos Predict Major Job Cuts in 2024
Ecuador Reports 178 Hostages in Prison Gang Standoff
The Startling Cuban Espionage Case That Has Rattled the US Government
Two Armed Men in Ecuador, Dressed as Batman and The Joker Storm the Streets.
Armed Gang Raids Ecuadorian TV Station Following State of Emergency Declaration
Anti-Democratic Canada: Journalist Arrested for Questioning Canadian Finance Minister on Support of Terrorist Group
Ecuador's 'Most-Wanted' Criminal Vanishes from Prison
Mexican Cartel Supplied Wi-Fi to Locals Under Threat of Fatal Consequences for Non-Compliance
Border Surge Leads to Over 11,000 Migrants Waiting in Northern Mexico
Outsider Candidates Triumph in Latin American Elections
As Argentina Goes to the Polls, Will the Proposal to Replace the Peso with the Dollar Secure Votes?
Fatal Shark Attack Claims Life of Boston Woman Paddleboarding Near Bahamas Resort, According to Police
×