Elon Musk reportedly now a target of Biden’s DOJ and SEC amid attempted Twitter takeover

Proving just how massive and influential a tool Twitter is for Democrats, the company, amid a hostile takeover effort by billionaire, free speech supporting Elon Musk, received a major boost of help from President Joe Biden’s Justice Department.

In an almost predictable fashion, according to The Daily Wire, as Musk continues his attempt to take over the company and turn it into a free-speech haven, a “de facto town square” as he calls it, both the Securities And Exchange Commission (SEC) and the Department of Justice (DOJ) are launching investigations into him. 

Musk is not a stranger to SEC investigations, but the latest version could be targeting both his electric vehicle company, Tesla, and possibly his attempted takeover of Twitter, a company of which he owns a little over 9%.

News of Musk’s possible complete ownership of Twitter shocked liberal media outlets and Democratic pundits, as they know if they lose Twitter to Musk, they’ll no longer be able to censor and silence opinions and narratives that do not match their own.

Musk now a target

Charles Gasparino of Fox Business Network explained what’s currently happening with the DOJ and SEC, as far as Musk’s business ventures are concerned.

“Both the DOJ and the SEC are clearly scrutinizing this entire matter,” Gasparino said.

He added: “Now, we’re getting this from lawyers … they’re clearly monitoring and scrutinizing this entire issue, whether he filed the right forms, whether there’s a stock manipulation case here, whether he’s making public statements that he probably shouldn’t make.”

“What we do know is that he’s stirred up a regulatory hornets’ nest. DOJ, SEC, I’m getting this from lawyers who deal with them.”

Gasparino seems to believe that the DOJ would have a “high bar” as far as successfully bringing a case against him, but he added that the SEC will have an easier time doing so, given the financials involved.

Twitter board failing

As far as how Twitter’s board is handling the attempted Musk takeover, business experts, including former SEC chairman Harvey Pitt, said they’re doing a terrible job, giving the board an “F” so far, according to Yahoo Finance.

“I believe under the circumstances, they needed to check out whether this was a real bid. If it were a real bid, then they needed to do what was in the best interest of their shareholders,” Pitt said.

He added: “This is a price that hadn’t been seen in quite some time. The number is at least a legitimate frame of reference and the board’s unwillingness to treat it seriously strikes me as worthy of a poor grade.”

 

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