🌐The US Securities and Exchange Commission filed a lawsuit against billionaire Elon Musk on Thursday. An SEC lawsuit seeks to force Elon Musk to testify in the agency's investigation into his controversial purchase of Twitter last year.
The SEC is investigating whether Musk violated securities laws during his acquisition of Twitter shares and in his public statements about the company in 2022. However, the regulator said Musk failed to appear for scheduled testimony in San Francisco last month
Elon Musk closed his tumultuous $44 billion takeover of Twitter in October 2022 after several months of legal trouble. He continued to make major changes as CEO until he stepped down in June 2023. Under Musk, Twitter reinstated banned accounts, laid off about 80% of employees, and began rebranding to “X” in July 2023.
By filing a lawsuit in federal court, the SEC aims to force Elon Musk to answer questions about the Twitter deal for their investigation. The agency needs his testimony to determine whether securities regulations were violated during the blockbuster acquisition.
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The SEC is investigating whether Musk violated securities laws during his acquisition of Twitter shares and in his public statements about the company in 2022. However, the regulator said Musk failed to appear for scheduled testimony in San Francisco last month
Elon Musk closed his tumultuous $44 billion takeover of Twitter in October 2022 after several months of legal trouble. He continued to make major changes as CEO until he stepped down in June 2023. Under Musk, Twitter reinstated banned accounts, laid off about 80% of employees, and began rebranding to “X” in July 2023.
By filing a lawsuit in federal court, the SEC aims to force Elon Musk to answer questions about the Twitter deal for their investigation. The agency needs his testimony to determine whether securities regulations were violated during the blockbuster acquisition.
#opbnb #ETH #Layer2 #BTC #crypto2023
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