The U.S. Securities and Exchange Commission on Thursday asked a federal court in San Francisco to order Elon Musk to comply with the agency's ongoing investigation into his 2022 acquisition of Twitter. Musk later rebranded Twitter as X.
Musk was scheduled to testify before the SEC on Sept. 15, but failed to show up at the agency's San Francisco office, according to SEC filings. The SEC later offered to allow Musk to testify closer to his Texas home, but the SEC's efforts were met with Musk's total refusal to testify.
The filing said the SEC was investigating Musk's purchase of Twitter stock and disclosures about his investment in the company. The Wall Street Journal reported in May 2022 that securities regulators were looking into Musk's recently disclosed holdings.
Musk has long feuded with the SEC. He settled a fraud investigation in 2018 in connection with comments he made on Twitter about taking Tesla private. Musk paid a $20 million fine and gave up Tesla (TSLA).
The U.S. Securities and Exchange Commission on Thursday asked a federal court in San Francisco to order Elon Musk to comply with the agency's ongoing investigation into his 2022 acquisition of Twitter. Musk later rebranded Twitter as X.
Musk was scheduled to testify before the SEC on Sept. 15, but failed to show up at the agency's San Francisco office, according to SEC filings. The SEC later offered to allow Musk to testify closer to his Texas home, but the SEC's efforts were met with Musk's total refusal to testify.
The filing said the SEC was investigating Musk's purchase of Twitter stock and disclosures about his investment in the company. The Wall Street Journal reported in May 2022 that securities regulators were looking into Musk's recently disclosed holdings.
Musk has long feuded with the SEC. He settled a fraud investigation in 2018 in connection with comments he made on Twitter about taking Tesla private. Musk settled the case by paying a $20 million fine, relinquishing his role as chairman of Tesla Inc. (TSLA) and agreeing with company lawyers to pre-review certain tweets about Tesla.
Musk later asked a federal judge to end the settlement, saying regulators were using the deal to harass him. The judge rejected Musk's request.