News

SEC Pressures Elon Musk for Testimony on Massive $44B Twitter Buyout!

Key Points:

  • SEC demands Musk’s testimony over the $44 billion Twitter (now X) acquisition.
  • Musk refuses investigative interview; SEC asserts legal right to seek testimony.
  • Legal clash intensifies as Musk seeks dismissal, claiming SEC overstepped authority.
US Securities and Exchange Commission (SEC) has intensified its pursuit of answers from tech magnate Elon Musk for Testimony regarding his high-profile $44 billion acquisition of Twitter, now rebranded as X.

In an ongoing investigation, the SEC has urged a federal judge in San Francisco to mandate Musk’s testimony.

The SEC initiated its inquiry last month, focusing on Musk’s acquisition of Twitter shares in 2022, as well as scrutinizing the acquisition statement and SEC filings associated with the deal. In a significant development, the regulatory body revealed that Musk had rebuffed participation in an investigative interview conducted in September.

On November 2, Musk, accompanied by his legal team, sought to dismiss the SEC’s motion compelling him to testify. Their argument hinged on Musk’s prior cooperation, highlighting that he had already testified twice. Additionally, they contended that the SEC had overstepped its authority in pursuing further testimony.

Contrary to Musk’s plea, the SEC firmly rejected these claims, emphasizing its legal prerogative to solicit testimony and documents during the course of an investigation. This legal clash between Musk and the SEC underscores the intensity surrounding the scrutiny of the high-stakes acquisition, leaving the tech and financial communities eagerly awaiting further developments in this unfolding narrative.

As the legal wrangling continues, the intrigue surrounding Musk’s Twitter acquisition deepens. The SEC’s persistence underscores the gravity of the investigation and the regulator’s determination to unearth all pertinent details.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Bitcoin Spot ETF Inflows Reach $449M With BlackRock Leading

Key Points: Bitcoin Spot ETF Inflows totaled $449M, led by BlackRock’s $1.45B contribution. Ethereum Spot…

31 minutes ago

Best New Meme Coins to Join for 2025: BTFD Coin Leads, Popcat Keeps It Purr-fect, and Non-Playable Coin Hits Gamers Hard

Discover the Best New Meme Coins to Join for 2025. BTFD Coin's price rollback offers…

2 hours ago

Solana memecoins crash while DTX Exchange hits 100,000 TPS on layer-1 blockchain

Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…

3 hours ago

Strategic Bitcoin Reserve Expected to Cut 35% of US National Debt by 2049

VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…

3 hours ago

The New Lead of Presidential Crypto Council Appointed by Trump Is Bo Hines

President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.

3 hours ago

Best New Meme Coins with 1000X Potential: BTFD Coin’s Hot BIG50 Discount As Baby Doge Coin, Dogs Takes Gaming to the Next Level

Explore the best new meme coins with 1000X potential. Learn how BTFD Coin leads with…

4 hours ago

This website uses cookies.