Elon Musk’s Twitter Acquisition Under SEC’s Investigation

Published By- The Qualts

Published Date- 06 Oct 2023

Elon Musk's Twitter Takeover 

In 2022, Elon Musk acquired Twitter for $43 billion, making headlines. 

SEC's Compelling Testimony 

The SEC is now investigating Musk's Twitter acquisition and has been trying to get him to testify, which he has been delaying. 

May 2022 Probe 

The SEC started investigating Musk's Twitter acquisition in May 2022 to ensure compliance with security laws. 

Failed Testimony 

Musk initially agreed to testify on September 15 but later backed out, citing objections. 

SEC's Filing 

The SEC reported that Musk rejected alternative testimony dates and accused the SEC of harassment. 

Ongoing Conflict 

Musk and the SEC have had conflicts since his 2018 tweet about taking Tesla private. 

Musk's Criticism 

Musk has criticized the SEC and called for regulatory reform in a recent post. 

Legal Troubles 

Skipping testimony adds to Musk's legal troubles, including DOJ inquiries into Tesla's self-driving claims and corporate benefits. 

Expert Opinion 

Former SEC employee Howard Fischer finds Musk's decision to skip testimony remarkable. 

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