CEO Morning Brief

US Federal Court Enforces SEC's Subpoena to Depose Elon Musk

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Publish date: Thu, 16 May 2024, 10:38 PM
TheEdge CEO Morning Brief

SAN FRANCISCO (May 15): A federal court said that Elon Musk must testify again in the US Securities and Exchange Commission's (SEC) investigation into his US$44 billion (RM207.12 billion) takeover of Twitter, according to a court filing on Tuesday.

The SEC sued Musk in October to compel the Tesla and SpaceX chief executive officer to testify after he refused to attend a September interview for the investigation, saying the SEC was trying to "harass" him with a number of subpoenas.

The investigation concerns whether Musk broke federal securities laws in 2022 when he bought stock in Twitter, which he later renamed X. It is also reviewing statements and SEC filings he made in relation to the deal, the agency has previously said.

Musk was not immediately available for comments.

Source: TheEdge - 16 May 2024

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