The US Securities and Exchange Commission (SEC) wants to force Elon Musk to testify in court in its investigation into his Twitter purchase. The authority filed a lawsuit in San Francisco on Thursday.
She investigates Musk’s public statements and stock purchases on Twitter. The tech billionaire completed the purchase of the online service at the end of October last year and has now renamed the platform X. He bought Twitter shares at the beginning of the year. The SEC has been investigating the deal since spring 2022.
According to the SEC lawsuit, Musk refused to testify in September after being subpoenaed, even though he initially agreed to an interview. His lawyer Alex Spiro told Bloomberg on Thursday that Musk had already testified several times in the investigation: “Enough is enough.”
Musk had made several U-turns on the Twitter deal. First, he announced a shareholding he had quietly purchased and agreed to join the board of directors as a shareholder. He then announced that he wanted to buy the company outright.
A few weeks after Twitter agreed to the $44 billion acquisition, Musk wanted to pull out of the deal because the platform had too many fake accounts and bots. Twitter sued him to force him to comply with the agreement. After it became clear that he would likely lose the lawsuit, Musk relented in the fall and completed the purchase. (sda/dpa)
Soource :Watson
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
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