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The SEC Is Suing Elon Musk. It’s All in the Timing
Less than a week before Donald Trump takes office, the SEC has filed a complaint against his most prominent benefactor.
That executive branch changeover, which happens in less than a week, creates a more favorable regulatory environment for Musk, who donated hundreds of millions of dollars to political action committees supporting Donald Trump’s presidential campaign and has reportedly been a close adviser to the president-elect during the transition period. A federal court upheld an earlier decision to compel him to testify in May of 2024; SEC lawyers flew out to interview him on September 10, but he stood them up once again to attend a SpaceX launch. And while the filing landing at the tail end of Biden’s term does “raise an eyebrow,” according to Adam Pritchard, coauthor of Securities Regulation: Cases and Analysis and a professor at the University of Michigan Law School, there’s not generally much of a lame duck period at the SEC.
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