What Will Happen Next?
The SEC alleges that Musk’s actions are a violation of federal security laws and, as such, warrant a lawsuit before a jury. Specifically, Musk bought enough shares to cross a threshold, and carried on buying shares until March 24. This means that he was 11 days late in disclosing the purchases.
However, the big question is whether the case will ever get to court. The current head of the SEC, Gary Gensler, is already in Trump’s crosshairs because of the hardline he takes towards regulation.
Trump is expected to give the role to Paul Atkins, who believes in less regulation – something the Trump-supporting tech bros are obviously keen on.
