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Q&A

Gutiérrez asks about bylaws barring shareholder class actions

New York City Council · Oct 16, 2026 · starts 0:53:00 · 1 min 52 sec

Council Member Jennifer Gutiérrez asks whether new bylaws bar shareholder class actions and whether users face limits on holding SpaceX accountable; Castillo-Madrid says she cannot confirm and is not aware, and Gutiérrez asks her to get back to the Council.

Carmen N. De La Rosa

Thank you.

Carmen N. De La Rosa

Councilmember Gutierrez.

Jennifer Gutiérrez

Thank you, Chair.

Jennifer Gutiérrez

Thank you, Speaker.

Jennifer Gutiérrez

Can you confirm if in the new set of bylaws, shareholder class actions are barred?

Member of the Public - Gabriela Castillo Madrid

I cannot confirm that.

Jennifer Gutiérrez

Okay.

Member of the Public - Gabriela Castillo Madrid

I'm not aware of that.

Jennifer Gutiérrez

Not aware.

Jennifer Gutiérrez

Okay.

Jennifer Gutiérrez

Are you aware of any other mechanisms or instances where limits to users'abilities to take action exist?

Member of the Public - Gabriela Castillo Madrid

Can you, I'm not entirely sure I understand the question.

Jennifer Gutiérrez

So very, very plainly, are there instances where users are not, are being challenged to hold the company, to hold your company accountable?

Jennifer Gutiérrez

I brought up the, I asked about the example of an inability to bring up class action suits.

Jennifer Gutiérrez

You said you cannot confirm.

Jennifer Gutiérrez

Hopefully you'll get back to us.

Jennifer Gutiérrez

But are you aware of any other instances where a user cannot hold your company accountable for whatever reason?

Jennifer Gutiérrez

Are you aware of any of those challenges?

Member of the Public - Gabriela Castillo Madrid

I mean, we're responsible for following the law and existing laws applied to SI and using SI is not a legal defense.

Jennifer Gutiérrez

Are there instances where if a user feels that they have been targeted wrongfully, are there instances where they themselves are not allowed to bring the company to court, for example?

Member of the Public - Gabriela Castillo Madrid

We're responsible for following the law and how it's written.

Member of the Public - Gabriela Castillo Madrid

So I don't necessarily understand where the distinction would be in what you're asking.

Jennifer Gutiérrez

Well, I know you can't confirm, but my understanding was in the new bylaws,

Jennifer Gutiérrez

shareholders cannot bring

Jennifer Gutiérrez

class action suits.

Jennifer Gutiérrez

So that's why, that's what I was asking, but hopefully you can confirm and share that with us very soon.