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Musk was sued by the US Securities and Exchange Commission and forced to attend the hearing

Tech 2023-10-07 13:41:28 Source: Network
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On October 5th local time, the US Securities and Exchange Commission (SEC) filed a lawsuit against Musk, demanding that Musk testify in its 2022 acquisition of Twitter (now X). In a statement, the SEC stated that it had followed all appropriate administrative steps required to seek Musk's testimony, but Musk refused to comply with the subpoena

On October 5th local time, the US Securities and Exchange Commission (SEC) filed a lawsuit against Musk, demanding that Musk testify in its 2022 acquisition of Twitter (now X). In a statement, the SEC stated that it had followed all appropriate administrative steps required to seek Musk's testimony, but Musk refused to comply with the subpoena. The SEC is now requesting court intervention and forcing Musk to cooperate.

Musk Data Map

It is reported that the US Securities and Exchange Commission began an investigation into Musk's acquisition of Twitter in April 2022 to determine whether Musk had engaged in illegal activities in acquiring Twitter stocks and related financial documents. Although the SEC has issued multiple subpoenas since May, Musk refused to testify by delaying the scheduled date and refusing to attend. The SEC stated, "Musk's continued refusal to comply with the SEC's administrative summons has hindered and delayed the investigation by SEC employees into whether he has violated federal securities laws. Therefore, the SEC is now requesting the court to compel Musk to attend the investigation hearing


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