1 year ago
The Securities and Exchange Commission is suing Elon Musk in a bid to compel him to testify in a probe into his 2022 purchase of Twitter, the company now known as X, the agency said Thursday.
The Wall Street regulator is investigating potential violations of U.S. securities laws regarding Musk's $44 billion deal to acquire Twitter as well as his statements and SEC filings about the company, the agency said in a filing in the U.S. District Court for the Northern District of California.
The investigation is ongoing and has not concluded that any laws were violated, the SEC added in a related release.
Musk failed to appear to testify in September after four months' notice, according to the agency. Musk only notified the agency that he would not appear two days beforehand, "raising, for the first time, several spurious objections," the SEC said.
Alex Spiro, an attorney representing Musk, said in an email: “The SEC has already taken Mr. Musk’s testimony multiple times in this misguided investigation — enough is enough.”
English (US)