• Tue. May 28th, 2024

Elon Musk summoned to give further testimony to the Securities and Exchange Commission after tweets

BySamantha Nguyen

May 16, 2024
Elon Musk summoned to give further testimony to the Securities and Exchange Commission after tweets

A US federal court has ordered Elon Musk to testify again before the US Securities and Exchange Commission (SEC) regarding his $44 billion takeover of Twitter. The SEC sued Musk in October after he refused to be interviewed for the investigation in September, claiming that the SEC was trying to harass him with subpoenas. The investigation is looking into whether Musk violated federal securities laws when he purchased shares of Twitter in 2022 and made statements and filings with the SEC related to the deal.

Federal Judge Laurel Beeler ruled in favor of the SEC in February, stating that the SEC’s subpoena was legitimate and seeking relevant information for their investigation. Musk requested a review of this decision, but District Judge Jacqueline Scott Corley upheld it, affirming that the SEC’s investigations are legitimate government inquiries.

This ruling comes as Musk faces scrutiny over his acquisition of Twitter and related statements and filings made to the SEC. The court’s decision upholds the SEC’s authority to investigate these matters and compels Musk to testify once again. The case continues to unfold as the SEC seeks to determine whether Musk violated federal securities laws in connection with his purchase of Twitter.

By Samantha Nguyen

As a content writer at newsqwe.com, I am passionate about crafting engaging and informative articles that captivate our audience. With a background in journalism and a keen eye for detail, I strive to deliver content that is not only well-researched but also adds value to our readers' lives. From breaking news stories to in-depth features, I take pride in my ability to tell compelling stories that resonate with our diverse audience. When I'm not typing away at my keyboard, you can find me exploring new cafes, practicing yoga, or getting lost in a good book. I am thrilled to be a part of the newsqwe.com team and look forward to sharing my love for writing with all of our readers.

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