Breaking news: Musk sued by SEC
It is reported that the U.S. Securities and Exchange Commission began an investigation into Musk’s acquisition of Twitter in April 2022 to find out whether Musk had violated any laws in acquiring Twitter stock and related financial documents. Despite multiple SEC subpoenas since May, Musk has refused to testify, delaying scheduled dates and refusing to appear. The SEC alleged that Musk’s continued refusal to comply with the SEC’s administrative subpoenas hindered and delayed SEC staff’s investigation into whether he violated federal securities laws. As a result, the SEC is now asking the court to compel Musk to attend an investigative hearing.
It is reported that the U.S. Securities and Exchange Commission began an investigation into Musk’s acquisition of Twitter in April 2022 to find out whether Musk had violated any laws in acquiring Twitter stock and related financial documents. Despite multiple SEC subpoenas since May, Musk has refused to testify, delaying scheduled dates and refusing to appear. The SEC alleged that Musk’s continued refusal to comply with the SEC’s administrative subpoenas hindered and delayed SEC staff’s investigation into whether he violated federal securities laws. As a result, the SEC is now asking the court to compel Musk to attend an investigative hearing.