The Securities and Exchange Commission on Thursday releasedasking for additional information about his disclosures — or lack thereof — regarding his tumultuous deal to buy Twitter.
In it, the agency asks why Musk did not update his public filings when he tweeted on May 17 that the"deal cannot move forward." "Please be advised that you remain responsible for the accuracy and adequacy of the disclosures in your beneficial ownership statements irrespective of our review of any of your filings," the SEC reminded Musk on June 2.
The agency says it spoke to Musk's counsel on May 18, but by June 2 had still not received a response. The next month, Musk officially said he was terminating the deal. In response, Twitter filed a lawsuit seeking to force the deal to continue.
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