The United States Securities and Exchange Commission has filed a court application to compel Elon Musk to testify in an ongoing investigation relating to his acquisition of X — formerly known as Twitter — in October 2022.
that saw the defunct Twitter transition from a publicly owned social media company to a private firm.on Thursday, the SEC said Musk’s statements and its filings relating to Twitter are also being probed – but no individual or entity has been pegged as a violator of the federal securities laws. “According to the filing, Musk failed to appear for testimony as required by the investigative subpoena served by the SEC, despite: agreeing to appear for testimony on a mutually agreed upon date in September 2023,” SEC said in the statement.The regulator said Musk was served the subpoena in May 2023, requiring his appearance for testimony in the SEC’s San Francisco regional office “on that mutually agreed upon date”.
Commenting on the reason for not appearing before the regulator, the SEC said the businessman raised “several spurious objections”.