Elon Musk Ordered to Testify in Twitter Takeover Probe
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Elon Musk Ordered to Testify in Twitter Takeover Probe
By Alabidun Shuaib AbdulRahman
Billionaire entrepreneur, Elon Musk, has been directed by a federal court to provide further testimony regarding his acquisition of Twitter, now rebranded as X, amidst concerns over his delayed disclosure of stake buildup in the social media platform.
As INCNews247 learned, the US Securities and Exchange Commission (SEC) is investigating whether Musk violated securities laws by failing to disclose his stock purchases before acquiring Twitter in 2022.
Although Musk had previously acknowledged the delay as a mistake.
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Musk’s absence from a scheduled deposition last month, citing a “high-risk” SpaceX launch, has raised questions about his willingness to cooperate.
The SEC has accused Musk of “gamesmanship and delay tactics” and is seeking sanctions to ensure his attendance.
Musk’s lawyers argue that he has cooperated with the SEC, providing hundreds of documents and testifying twice.
However, the SEC claims Musk refused to provide additional testimony, prompting the court to order his appearance.
The stakes are high, with Musk’s deposition rescheduled for October 6-7, just days before a trial over his attempted withdrawal from the $44 billion Twitter takeover.
