Elon Musk and Tesla were denied a court hearing on their claims that the Securities and Exchange Commission has made them the target of an “unrelenting investigation” in retaliation for criticisms of the government.
US District Judge Alison Nathan on Thursday said it was not clear what the company and its chief executive were asking for in a February 17 letter complaining that they were the subject of “endless probes” by the regulator.
Mr Musk and Tesla accused the SEC of using their settlements of suits over a series of 2018 tweets by Mr Musk to “muzzle and harass” him and the company.
They asked for a court conference on the regulator’s alleged failure to distribute $40 million in settlement funds while spending “energy and resources investigating Mr Musk’s and Tesla’s compliance with the consent decree by issuing subpoenas unilaterally, without court approval”.
The SEC denied the claims in a letter to the judge, saying that agency enforcement staff has been in touch with Mr Musk and Tesla, seeking to address concerns over their compliance with the settlements.
“The defendants’ precise application to the court is unclear,” the judge said in a two-page order denying the request on Thursday, suggesting that they file a proper request with the court if they seek relief.
The dispute is the latest in a continuing battle between the SEC and Mr Musk over his Twitter posts claiming he had the funding and investor support to take the company private at $420 a share.
The SEC alleged the tweets were false, and while Mr Musk and Tesla did not admit wrongdoing in the accord, the agency set up a “fair fund”, with $20m each from Mr Musk and Tesla, to compensate company investors.
ICC T20 Team of 2021
Jos Buttler, Mohammad Rizwan, Babar Azam, Aiden Markram, Mitchell Marsh, David Miller, Tabraiz Shamsi, Josh Hazlewood, Wanindu Hasaranga, Mustafizur Rahman, Shaheen Afridi
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What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
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Married Malala
Malala Yousafzai is enjoying married life, her father said.
The 24-year-old married Pakistan cricket executive Asser Malik last year in a small ceremony in the UK.
Ziauddin Yousafzai told The National his daughter was ‘very happy’ with her husband.
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
FIXTURES
December 28
Stan Wawrinka v Pablo Carreno Busta, 5pm
Milos Raonic v Dominic Thiem, no earlier then 7pm
December 29 - semi-finals
Rafael Nadal v Stan Wawrinka / Pablo Carreno Busta, 5pm
Novak Djokovic v Milos Raonic / Dominic Thiem, no earlier then 7pm
December 30
3rd/4th place play-off, 5pm
Final, 7pm
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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