The United States Securities and Exchange Commission (SEC) has filed a request for an order compelling Elon Musk to testify regarding multiple allegations of federal securities law violations.
The SEC is seeking Elon Musk’s court appearance regarding his actions related to buying Twitter in 2022.
SEC Continues Musk Investigation, Gathers Information
In a recent statement, the SEC claims that Musk did not appear for testimony as mandated by the investigative subpoena issued by the SEC.
It clarifies that Musk received substantial advance notice to attend the testimony in May 2023. This was nearly four months ahead of the scheduled date in September.
Just two days before, Musk reportedly informed the SEC that he would not appear:
“Musk attempted to justify his refusal to comply with the subpoena by raising, for the first time, several spurious objections.”
The SEC asserts that although it has already collected information for its investigation, it anticipates that Musk’s testimony will provide additional insights not currently within its possession.
It further affirms that it is currently in the process of gathering information and is not assigning blame to Musk at this point in time:
“The SEC staff is continuing its fact-finding investigation and, to date, has not concluded that any individual or entity has violated the federal securities laws.”
This is a developing story and more information will be added as it becomes available.
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