Business

Elon Musk Ordered to Face Further SEC Questioning Over Twitter Takeover Amid Court Pressure

Elon Musk has been ordered by a federal court to face further questioning from lawyers on Thursday regarding his takeover of Twitter—now rebranded as X—but the big question remains: Will he show up?

Last month, Musk skipped a court-ordered appearance at the U.S. Securities and Exchange Commission (SEC) office in Los Angeles. This upcoming session is part of a high-stakes investigation into whether Musk delayed disclosing his purchase of a stake in Twitter, a delay he has admitted was a mistake.

The SEC is seeking sanctions to ensure Musk’s appearance, after the tech billionaire’s last-minute cancellation of a September 10 deposition. Musk’s lawyers claimed he was attending a “high-risk” SpaceX launch, but SEC lawyers later found out Musk had publicly announced his plans to travel to Florida a day ahead of the deposition.

In response, the SEC rescheduled the meeting and asked the court to enforce Musk’s attendance. Musk has already provided two depositions as part of the SEC’s probe into his $44 billion acquisition of Twitter, with the agency investigating if his stock purchases and related statements broke securities laws.

However, Musk refused to appear for a third deposition, accusing the SEC of harassment. His lawyers pointed out that Musk and his associates have already cooperated extensively, including providing hundreds of documents and testifying multiple times.

SEC attorney Robin Andrews urged U.S. District Judge Jacqueline Corley to impose a penalty if Musk fails to show on Thursday, stressing that “gamesmanship and delay tactics” must stop.

Kindly share this story:
Kindly share this story:
Share on whatsapp
Share on facebook
Share on twitter
Share on linkedin
Share on telegram
Share on facebook
Top News

Related Articles