Tesla CEO Elon Musk accuses the SEC of ‘leaking’ information

Photo by JIM WATSON/AFP via Getty Images

Musk is accusing the SEC of leaking information from a federal investigation to retaliate against him for his public criticisms.

The accusation is contained in a new letter from Musk's attorney Alex Spiro to US District Judge Alison Nathan, who oversaw the settlement between Musk and the SEC. It was the third letter in the past two weeks in a back-and-forth between Musk and the US government.

Musk accuses the SEC of leaking information about a federal probe into his securities fraud case. Spiro writes.

It has become clearer and clearer that the Commission is out to retaliate against my clients for exercising their First Amendment rights—most recently by criticizing the Commission on the public docket and by petitioning this Court for relief. Upon information and belief, after I filed the February 17, 2022 letter to this Court regarding the Commission’s conduct, at least one member of the SEC staff responded by leaking certain information regarding its investigation. This leak is emblematic of the vindictive, improper conduct that occasioned my letter: the SEC is retaliating against Mr. Musk and Tesla, without answering to the constraints of principle or law in so doing.

Spiro asks the SEC staff to preserve their records and devices and 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 888-270-6611 He wants an assurance that the Commission has not leaked investigative details in violation of its own rules and policies, and that it is acting in accordance with the law.

Spiro doesn't give any evidence to back up his claims. The SEC wouldn't comment on Musk's most recent letter.

Three years have passed since the funding secured by the “tweet' was made public. The SEC launched an investigation after Musk sent the message, concluding that he misled investors.

After a year, the SEC and the company agreed that Musk should be subject to more oversight. As per the settlement, a company lawyer was designated to pre-approve Musk's statements about the company's financial health, sales, or delivery numbers, as well as other specific subjects.

Ahawkins8223 wrote a letter about the SEC.

The dispute was not settled by that. The SEC asked a federal judge to hold Musk in contempt for violating the terms of his agreement by sending out a false and inaccurate message. Musk said that the company would make 500,000 Model 3s this year, which appeared to clash with the company's official guidance of delivering 360,000 to 400,000 cars.

The SEC said that Musk was in violation of the settlement because he claimed the agency was attempting an unconstitutional power grab. A federal judge ordered the two sides to work out their differences.

The SEC subpoenaed the company late last year over Musk's social media posts. The SEC was accused of ignoring its commitment to distribute $40 million in fine money to shareholders by Musk and his company. The SEC is still working on a plan to allocate the funds.