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Current SEC chair cast only vote against suing Elon Musk, report says
SEC case over late disclosure of Twitter stock buy still moving ahead, for now.
A new report says that when the Securities and Exchange Commission sued Elon Musk less than a week before President Trump's inauguration, only one member—the current chairman—voted against filing the lawsuit.
The vote behind closed doors was 4–1, with three Democrats and Republican Hester Peirce joining to support the lawsuit over Musk's late disclosure of a Twitter stock purchase in early 2022, Reuters reported today. The one dissent reportedly came from Republican Mark Uyeda, who was subsequently named acting SEC chairman by Trump.
Uyeda also asked SEC enforcement staff "to declare that a case they wanted to bring against Elon Musk was not motivated by politics, an unusual request that the staffers refused," Bloomberg reported last month. Reuters said its sources confirmed that "staff refused to sign the pledge, as it is not typical SEC practice."
