The U.S. Securities and Exchange Commission has sued Elon Musk in an effort to compel the billionaire to testify over the purchase of Twitter.
Attorneys representing the SEC alleged in a complaint filed on Thursday in the Northern District of California that Musk failed to appear for a September testimony as required by a subpoena.
Broadly, the SEC said the investigation is tied to whether anyone committed securities fraud in purchasing Twitter shares last year as Musk was buying stock in the company. "Musk's ongoing refusal to comply with the SEC's administrative subpoena is hindering and delaying the SEC staff's investigation to determine whether violations of the federal securities laws have occurred," the attorneys wrote in the complaint."Accordingly, the SEC now asks the Court to compel Musk to appear for investigative testimony.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Musk is nearly done destroying what made Twitter TwitterMusk didn’t buy Twitter. He bought millions of accounts he could repurpose for another app entirely.
Read more »
Mr. CFB: Five Weeks In, Both SEC East and SEC West Look Wide OpenFive Saturdays are now in the books and this much we know: If you are an SEC football fan you better buckle up your seat belt and tighten your chin strap because you are headed for a hellua ride. This will be the final year that the SEC will be split into East and West Divisions, which have been in ...
Read more »
Former Twitter CEO Parag Agarwal and Censorship Queen Vijaya Gadde Beat Elon Musk in CourtSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »