Kaelan Deese is a Supreme Court reporter for the Washington Examiner covering the latest happenings at the nation's highest court and the legal issues surrounding Second Amendment rights, abortion, and religious liberties. He previously wrote breaking news as a fellow for the Hill during the 2020 election cycle.
Elon Musk and Mark Cuban, two names not often connected to the Seventh Amendment, filed a joint amicus brief at the Supreme Court challenging the legitimacy of in-house trials at the Securities and Exchange Commission.
The filing comes as the Twitter-turned-X CEO is facing his third major lawsuit by the financial regulator after he was sued in 2018 and again in 2019. This time, the agency is asking a federal court to force Musk's testimony in an investigation related to his acquisition of Twitter and public disclosures he made in connection with the deal, according to court filings.
Justices on Nov. 29 will hear the Biden administration's appeal that argues a 5th U.S. Circuit Court of Appeals ruling in favor of Jarkesy will have "massive" consequences across the federal government if it's not reversed. The appeals court found in May 2022 that his Seventh Amendment rights to a jury trial were violated, one month after the commission also admitted in April 2022 that SEC personnel improperly accessed files in dozens of cases, including Jarkesy's matter.
Notably, the SEC introduced new cybersecurity risk management regulations on July 26 that require public companies to disclose"material" data breaches within four days despite admitting that its own so-called control deficiency that led to improper file sharing was discovered in 2021 but first reported in April 2022.
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