Elon Musk Faces Pressure to Answer Questions in Twitter Takeover Investigation
Elon Musk, the billionaire tech mogul behind SpaceX and Tesla, is once again in the spotlight as he faces pressure to answer further questions from lawyers about his takeover of Twitter, now known as X. A federal court has ordered Musk to appear for an interview on Thursday as part of a high-level investigation into whether he waited too long to disclose his stake in Twitter before acquiring the social media platform in 2022.
This comes after Musk was a no-show for a court-ordered appearance at the US Securities and Exchange Commission (SEC) office in Los Angeles last month. The SEC is now trying to force him to appear on Thursday by calling for possible sanctions.
The SEC has been looking into whether Musk’s stock purchases and statements about those investments before acquiring Twitter violated securities laws. Musk has given two depositions in the investigation but refused to provide testimony a third time, accusing the SEC of harassment.
In response to the SEC’s efforts to compel his appearance, Musk’s lawyer, Alex Spiro, stated that his client and his companies have cooperated with the SEC in this investigation and others. Spiro highlighted that Musk has produced hundreds of documents and sat for testimony twice without rescheduling or canceling.
The SEC has asked US District Judge Jacqueline Corley to impose a penalty on Musk if he fails to appear for the scheduled interview on Thursday, emphasizing the need to deter him from “failing to show up.” The SEC lawyer, Robin Andrews, stated in a court filing that “gamesmanship and delay tactics must cease.”
The financial world is eagerly awaiting Musk’s response to the SEC’s questions, with many wondering if he will show up for the interview on Thursday. Stay tuned for updates on this developing story.
