Billionaire entrepreneurs Elon Musk and Mark Cuban have joined forces to submit a shared amicus brief to the Supreme Court, expressing concerns about the Securities and Exchange Commission’s (SEC) approach to internal proceedings without jury involvement. They argue that these administrative proceedings lead to unequal outcomes for individuals facing SEC charges, potentially infringing on their Seventh Amendment right to a jury trial. The case at the center of this legal challenge is SEC v. Jarkesy, where George Jarkesy claims his Seventh Amendment rights were violated due to the lack of a jury in the SEC’s internal adjudication process. Musk and Cuban highlight a shift in the SEC’s approach from federal courts to internal proceedings since 2013, following a series of unsuccessful insider trading cases tried before juries. Musk himself is currently facing his third legal dispute with the SEC, with the regulatory body seeking his testimony regarding his acquisition of Twitter. Musk and Cuban are appealing to the Supreme Court to endorse the decision made by the 5th Circuit, arguing that administrative proceedings contradict the SEC’s mission and could harm investors and the markets.

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Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	1
People	Elon Musk, George Jarkesy, Mark Cuban, Gary Gensler
Companies	Supreme Court, SpaceX, Securities and Exchange Commission (SEC), Tesla, SEC v. Jarkesy case
Currencies	None
Securities	None