SAN FRANCISCO: US regulators on Thursday asked a judge to issue order Elon Musk to obey with a subpoena to reply queries regarding his purchases of Twitter shares in 2022, Western media reported.
Elon Musk, who increased his stake in Twitter before buying the firm for 44 billion dollars, did not show up for a scheduled deposition in September with the Securities and Exchange Commission, according to a legal filing.
US Regulators Say Elon Musk Dodging Twitter Share Buy Queries
“Elon Musk’s current denial to fulfil with the Securities and Exchange Commission ‘s administrative summon is delaying and postponing the SEC staff’s probe to regulate whether violations of the federal securities regulations have happened,” the commission stated in court documents.
Read Also: Elon Musk’s X Removes Headlines from Links
“Accordingly, the Securities and Exchange Commission now asks the court to fulfil Musk to appear for probe testimony.”
The SEC probe pertains to all of Elon Musk’s acquisitions of Twitter stock last year as well as his remarks and filings with market rules and regulators, court documents said. Elon Musk objections to the latest deposition included an allegation that the Securities and Exchange Commission is using its power to “annoy” him, the commission said.
