Judge gives Musk bad news, says Trump hasn't intervened to block SEC lawsuit

Here's something that might surprise you — Elon Musk’s legal troubles aren't getting any political backup, not even from Donald Trump. A US district judge recently made it clear that Trump has so far stayed out of Musk’s SEC lawsuit, which was filed right at the end of Biden’s administration. The SEC claims Musk secretly bought a 9% stake in Twitter without revealing it on time, allowing him to buy over 70 million shares at a discount and hurting other investors financially. Ashley Belanger reports that this lawsuit is seeking hefty penalties — $150 million in disgorgement and civil fines — plus an injunction to prevent Musk from future missteps. But here’s the thing — despite Musk’s high-profile antics, Trump isn’t stepping in to support him, which some see as a blow to Musk’s claims that the lawsuit is politically motivated. So, what does this all mean? Well, it’s a reminder that even powerful billionaires can’t always count on political allies, especially when the legal stakes are high.