SAN FRANCISCO — The Securities and Exchange Commission said Thursday it is seeking a court order that would compel Elon Musk to testify as part of an investigation into his purchase of Twitter, now called X.The SEC said in a filing in a San Francisco federal court that Musk failed to appear for testimony on Sept. 15 despite an investigative subpoena served by the SEC and having raised no objections at the time it was served.
After Musk signed a deal to acquire Twitter in April 2022, he tried to back out of it, leading the company to sue him to force him to go through with the acquisition. That complaint centered around whether Musk violated a regulatory deadline to reveal he had accumulated a stake of at least 5%. The lawsuit alleged that Musk’s actions hurt less wealthy investors who sold shares in the company in the nearly two weeks before Musk acknowledged holding a major stake.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SEC seeks to compel Elon Musk to testify in investigation of Twitter acquisitionThe SEC said it is seeking a court order that would compel Elon Musk to testify as part of an investigation into his purchase of Twitter
Source: TheTorontoSun - 🏆 23. / 68 Read more »
US regulators seek to compel Elon Musk to testify in their investigation of his Twitter acquisitionSAN FRANCISCO (AP) — The Securities and Exchange Commission said Thursday it is seeking a court order that would compel Elon Musk to testify as part of an investigation into his purchase of Twitter, now called X. The SEC said in a filing in a San Francisco federal court that Musk failed to appear for testimony on Sept. 15 despite an investigative subpoena served by the SEC and having raised no objections at the time it was served. But “two days before his scheduled testimony, Musk abruptly notif
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
U.S. regulators seek to compel Elon Musk to testify in their investigation of his Twitter acquisitionThe Securities and Exchange Commission said Thursday it is seeking a court order that would compel Elon Musk to testify as part of an investigation into his purchase of Twitter, now called X.
Source: CP24 - 🏆 30. / 67 Read more »