Search
Search
SEC Sues Elon Musk for Testimony on Twitter Acquisition

SEC Sues Elon Musk for Testimony on Twitter Acquisition

0
0

159 Listen to this article The U.S. Securities and Exchange Commission (SEC) has initiated criminal complaints towards billionaire entrepreneur Elon […]

Latest News

Listen to this article

The U.S. Securities and Exchange Commission (SEC) has initiated criminal complaints towards billionaire entrepreneur Elon Musk, worrying that he seem earlier than the corporation to testify concerning his acquisition of Twitter inside the preceding year. The criticism, submitted to the Northern District of California, claims Musk did now not honor a subpoena issued through the SEC. The subpoena, served in May 2023, mandated his look for testimony on September 15, 2023.

The SEC’s broader investigation is aimed at uncovering any capacity securities fraud which can have taken area during the purchase of Twitter shares last 12 months. Elon Musk’s acquisition of Twitter, now renamed X, was finalized in October at an approximate price of $forty four billion.

The SEC’s court docket submitting states, “Musk’s ongoing refusal to conform with the SEC’s administrative subpoena is hampering the SEC’s pursuit to examine whether or not there were breaches of federal securities laws.” The corporation is now looking for the courtroom’s intervention to ensure Musk’s compliance.

The SEC highlighted its tries to cooperate with Musk via suggesting numerous dates for the testimony or even providing to host the session in Fort Worth, Texas, for Musk’s convenience, as it is near his contemporary house in Austin. Yet, some of these efforts have been in useless as Musk constantly declined to testify.

The criticism additionally sheds light on Musk’s more than one reasons for refusing to comply, inclusive of his unexpected objection to San Francisco as a suitable vicinity for the testimony, no matter having no previous problems with it.

Read Also:  Bitcoin's Unexpected Price Drop Stuns Gold Investors

Representatives for X have now not provided any feedback on the problem as of but.

For the Latest Crypto News follow the Coinography and Subscribe our YouTube channel or follow us on social media platforms like Twitter, Facebook, Instagram and LinkedIn.

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Get Latest Updates

Latest News

Web Stories

Latest News

0
Would love your thoughts, please comment.x
()
x
Scroll to Top
Bitcoin ETFs Surge as Investors Seek Exposure Coinbase, Andreessen Horowitz, and Ripple have joined forces to fund a new crypto DMM Bitcoin Hit by $305M Hack Ripple Releases 1 Billion XRP Tokens What to Expect from Bitcoin’s Price Rally in H2 2024 Trump’s MAGA Coin Soars 7% While Biden Parody Sinks Amid Ex-President’s Trial — NFTs Hold Steady Analyst Warns About Dogecoin Decline CME Denies Solana Futures Plans Amid Growing Rumors Can PEPE flip Polygon? Market cap race heats up! Why Bitcoin Price Is Down Today? Cristiano Ronaldo Launches 4th NFT Collection on Binance Amid $1B Lawsuit Coinbase Alleges SEC Dodging Howey Test in New Appeal Ethereum ETFs Granted Official Approval by SEC Crypto Whale Splurges $10.4 Million on Meme Coin PEPE SOL Price Nearing Support as On-Chain Activity Dips for Solana Penguiana Meme Coin’s Presale Achieves Success, Raising 290 SOL Solana to Bitcoin Bridge, Zeus Network, Set for Debut in Q3 2024 DeFi Lending Leader Aave Unveils V4 Protocol Overhaul MicroStrategy (MSTR) Incurs Losses in Q1 After Digital Asset Impairment Takes Toll Upbit Emerges as Top Five Crypto Exchange, Posing Challenge to Binance, Coinbase