Elon Musk has announced that SpaceX will sue the Federal Aviation Administration for "regulatory overreach" after the agency imposed fines of over $600,000 for violations during two 2023 launches. According to the FAA, SpaceX failed to comply with licensing and safety regulations, using unapproved facilities and altering communication plans during a launch in Florida. Musk criticized the penalties as "lawfare" and alleged political motivations behind the FAA's actions.
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00:00It's Benzinga, and here's what's on the block.
00:02Elon Musk has announced that SpaceX will sue the Federal Aviation Administration for regulatory
00:07overreach after the agency imposed fines of over $600,000 for violations during two 2023
00:14launches.
00:15According to the FAA, SpaceX failed to comply with licensing and safety regulations, using
00:20unapproved facilities, and altering communication plans during a launch in Florida.
00:24Musk criticized the penalties as lawfare and alleged political motivations behind the FAA's
00:29actions.
00:30For all things money, visit Benzinga.com.