The U.S. Securities and Exchange Commission (SEC) plans to seek sanctions against Elon Musk for failing to appear for a court-ordered testimony related to its investigation into his $44 billion Twitter takeover. Musk notified the SEC just hours before the scheduled testimony on September 10 that he would not attend, citing an emergency related to a SpaceX launch. The SEC argued that Musk knew about the launch in advance and accused him of delaying tactics. Musk’s lawyer called the sanctions unnecessary and said his testimony has been rescheduled for October 3. The SEC is investigating whether Musk violated securities laws when he delayed disclosing his Twitter stock purchases in early 2022. Musk has previously clashed with the SEC over his Twitter activities.
Read more – https://www.reuters.com/technology/us-sec-intends-seek-sanctions-against-elon-musk-twitter-probe-2024-09-20/
