SEC Sues Elon Musk for Testimony in Twitter Purchase Probe
The SEC, which has been investigating Elon’s 2022 Twitter share purchase, is now taking legal action to compel his testimony and compliance with their subpoena.
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The SEC, which has been investigating Elon’s 2022 Twitter share purchase, is now taking legal action to compel his testimony and compliance with their subpoena.
In response, Musk has called for a “comprehensive overhaul” of the SEC, alleging that he failed to testify in their investigation regarding his $44 billion Twitter (now X) acquisition last October.
The SEC’s inquiry revolves around whether Musk’s purchase violated securities laws.
In a next post on X, Musk suggested that it should be the SEC, along with the U.S. Department of Justice, under investigation instead.
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