Panel Denies Musk’s Claim That SEC Acted In Bad Faith, Nixes Bid To Quash Subpoena

Mealey's (May 18, 2023, 1:35 PM EDT) -- NEW YORK — A panel of the Second Circuit U.S. Court of Appeals has affirmed a lower court ruling and held that there is no evidence to support Elon Musk’s contention that the U.S. Securities and Exchange Commission used a consent decree “to conduct bad-faith, harassing investigations of his protected speech,” with regard to something he tweeted about possibly taking his company Tesla private.  As a result, the panel denied Musk’s bid to quash a subpoena and terminate a consent order that had been instituted in response to his tweeting behavior....