SEC files lawsuit against Elon Musk demanding testimony on Twitter takeover

The Securities and Exchange Commission (SEC) is suing billionaire Elon Musk to make him testify in an investigation related to his acquisition of Twitter which was completed in October 2022, according to a Thursday filing.

The SEC has sued Musk in a federal court in San Francisco to compel him to provide testimony in the commission’s investigation into the acquisition, according to the filing. Musk allegedly may have breached securities laws related to buying shares of Twitter Inc. before his acquisition of the company and the SEC is looking into his public statements and filings pertaining to the purchases.

BREAKING: The SEC has sued Elon Musk in federal court in San Francisco to force try and force him to testify in the agency’s probe into his purchase of Twitter in 2022, per the Bloomberg.

— unusual_whales (@unusual_whales) October 5, 2023

“The SEC staff’s application seeks an order from the court directing Musk to comply with the subpoena. The application is subject to the court’s ruling,” according to the SEC’s litigation release. “The SEC staff is continuing its fact-finding investigation and, to date, has not concluded that any individual or entity has violated the federal securities laws.”

The SEC served Musk a subpoena in May but he did not attend a scheduled mandatory testimony in September in San Francisco despite agreeing to, according to the SEC.

“Two days before his scheduled testimony, Musk abruptly notified the SEC staff that he would not appear,” the filing asserts. “Musk attempted to justify his refusal to comply with the subpoena by raising, for the first time, several spurious objections, including an objection to San Francisco as an appropriate testimony location.”

Musk has faced a multitude of investigations from the Biden administration since he took over Twitter and exposed the censorship by his predecessors.

X did not immediately respond to the Daily Caller News Foundation’s request for comment.

The SEC declined to comment.

All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

DONATE TO BIZPAC REVIEW

Please help us! If you are fed up with letting radical big tech execs, phony fact-checkers, tyrannical liberals and a lying mainstream media have unprecedented power over your news please consider making a donation to BPR to help us fight them. Now is the time. Truth has never been more critical!