Elon Musk and Mark Cuban have joined forces to challenge the U.S. Securities and Exchange Commission’s (SEC) practice of conducting in-house trials without juries.
The duo has presented a joint amicus brief to the Supreme Court, raising questions about the legitimacy of the SEC’s administrative proceedings and their implications for the Seventh Amendment right to a jury trial.
Musk and Cuban Challenge SEC
At the core of this challenge is the case of SEC vs. Jarkesy. Plaintiff George Jarkesy argues that his Seventh Amendment rights were violated when the agency used an internal adjudication process led by an administrative law judge appointed by the commission.
Musk and Cuban claim that this creates a scenario where a single entity acts as judge, jury, and executioner, raising concerns about impartiality and due process.
