January 16, 2025
Biden's SEC Launches Sham Prosecution of Musk
Timothy Birdnow
Just as Biden goes out the door he leaves a parting gift.
SEC Lawsuit: Elon Musk’s Failure to Disclose Twitter Stake Let Him Buy at ‘Artificially Low Prices’
???? You may remember Musk got swindled by Twitter, which had artificially inflated it's value by using bots to pretend to be legitimate traffic. Mr. Musk tried to cancel the deal but was forced to execute. See Musk abandons deal to buy Twitter; company says it will sue, an AP article.
So Musk was forced to buy a failing platform where HE got swindled and Biden's last act as President is for his SEC to attack Musk. Clearly the price Musk paid was too high, not too low.
FTA:
How, pray tell, does owning some stock in the company constitute fraud when purchasing more of it? Someone please explain this to me.
The Left used to own Twitter and it was one of the power bases of the Deep State until Musk bought it and opened it to what it was intended to be - a public forum. They have attacked Musk at every turn as payback for taking "their" social network. And when a leftist feels slighted their knee-jerk reaction is to repress free speech and attack using whatever weapon is handy, especially the law. Lawfare is as natural to them as breathing.
This is a disgrace and hopefully Paul Atkins will ask for this to be dismissed as soon as he takes office in a few weeks.
These people came in like Pr#%&s and went out the same way. That phrase was used about Jimmy Carter but it REALLY sums up the Biden Administration.
Just as Biden goes out the door he leaves a parting gift.
SEC Lawsuit: Elon Musk’s Failure to Disclose Twitter Stake Let Him Buy at ‘Artificially Low Prices’
???? You may remember Musk got swindled by Twitter, which had artificially inflated it's value by using bots to pretend to be legitimate traffic. Mr. Musk tried to cancel the deal but was forced to execute. See Musk abandons deal to buy Twitter; company says it will sue, an AP article.
So Musk was forced to buy a failing platform where HE got swindled and Biden's last act as President is for his SEC to attack Musk. Clearly the price Musk paid was too high, not too low.
FTA:
"CNBC reports that in a civil complaint filed on Tuesday in the U.S. District Court in Washington, D.C., the SEC alleges that Elon Musk committed securities fraud in 2022 by not disclosing his ownership of more than five percent of Twitter shares within the required 10 calendar days of reaching that threshold. This lack of transparency, according to the SEC, enabled Musk to underpay for Twitter shares by at least $150 million."
How, pray tell, does owning some stock in the company constitute fraud when purchasing more of it? Someone please explain this to me.
The Left used to own Twitter and it was one of the power bases of the Deep State until Musk bought it and opened it to what it was intended to be - a public forum. They have attacked Musk at every turn as payback for taking "their" social network. And when a leftist feels slighted their knee-jerk reaction is to repress free speech and attack using whatever weapon is handy, especially the law. Lawfare is as natural to them as breathing.
This is a disgrace and hopefully Paul Atkins will ask for this to be dismissed as soon as he takes office in a few weeks.
These people came in like Pr#%&s and went out the same way. That phrase was used about Jimmy Carter but it REALLY sums up the Biden Administration.
Posted by: Timothy Birdnow at
01:29 PM
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