A federal judge has ruled that Elon Musk’s legal team will be allowed to keep access to records at some federal agencies, for the time being. This decision comes as part of an ongoing legal battle between Musk and the Securities and Exchange Commission (SEC) over his use of social media to disclose information about Tesla, Inc.
The SEC has accused Musk of violating a settlement agreement reached in 2018, which required him to have his tweets about Tesla pre-approved by the company’s legal team. The agency claims that Musk failed to get approval for a tweet he posted in February 2019, which they argue contained material information about Tesla’s production levels.
In response to the SEC’s allegations, Musk’s legal team requested access to records at various federal agencies, including the SEC and the Department of Justice, in order to defend their client. The SEC had initially objected to this request, arguing that it would be burdensome and time-consuming to produce the requested records.
However, Judge Alison Nathan of the U.S. District Court in Manhattan ruled in favor of Musk’s team, stating that they could keep access to records at some agencies while the legal proceedings continue. The judge also ordered the SEC to provide Musk’s team with a list of documents that they plan to use in the case, so that they can begin preparing their defense.
This ruling is a small victory for Musk and his legal team, as they continue to fight the SEC’s allegations of contempt of court. The case is set to go to trial in April, where a jury will ultimately decide whether Musk violated the terms of his settlement agreement with the SEC.
Overall, this latest development in the legal battle between Musk and the SEC highlights the complexity and high stakes involved in cases of this nature. As both sides continue to present their arguments in court, the outcome of this case will have significant implications for Musk, Tesla, and the broader issue of corporate governance and accountability.
