Bloomberg Law SEC Sues Elon Musk & Wildfire Lawsuits
Jan 17, 2025
James Park, a UCLA Law Professor specializing in securities law, offers insights on the SEC's lawsuit against Elon Musk, exploring its implications for market behavior and regulatory enforcement. Bernie Bernheim, an attorney with the Bernheim Law Firm, discusses ongoing wildfire lawsuits against Southern California Edison, highlighting legal accountability and nuances of California's inverse condemnation law. The discussions reveal the challenges of corporate compliance and the legal complexities faced by wildfire victims seeking justice.
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SEC Sues Musk
- The SEC is suing Elon Musk for not disclosing his Twitter stake.
- He allegedly saved $150 million by delaying the disclosure.
SEC's Delayed Action
- The SEC's delay in suing Musk might be due to internal debates, workload, or political considerations.
- They might have been hesitant to appear as if they were targeting him.
A Ticky-Tack Complaint?
- Musk's lawyer calls the SEC complaint a "ticky-tack complaint."
- The SEC views the violation as a strict liability issue like a speeding ticket.