In response to a brand new court docket submitting, Elon Musk has agreed to testify within the SEC’s investigation into his 2022 buy of Twitter. This comes 7 months after the SEC sued to compel testimony.
In response to the submitting, Musk has agreed to seem for as much as 5 hours of questioning later this 12 months at one of many SEC’s workplaces. “The events have conferred relating to the date and site of Respondent’s extra investigative testimony, and agreed to conduct the testimony at one in every of 4 specified SEC workplaces on a date greater than 60 days from the Courtroom’s Might 14, 2024 Order,” the submitting reads. Moreover, Musk agreed to not attraction the court docket determination that ordered him to adjust to the company’s subpoena.
The SEC is investigating potential violations of U.S. securities legal guidelines round Musk’s buy of Twitter, based on an SEC submitting in Oct 2023 within the Northern District of California. The SEC sued Musk in October to compel him to testify after he refused to attend a September interview. The billionaire has mentioned the SEC is attempting to “harass” him by way of unwarranted investigations.
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To counter the argument, the SEC responded that they had been working inside its bounds. The regulator mentioned it was granted authority by legislation to hunt testimony and paperwork because it continued its investigation.
Elon Musk has continuously accused the SEC of abusive enforcement since he agreed with the company in 2018 to have an in-house lawyer pre-approve his social media posts about Tesla. In April, the US Supreme Courtroom refused to take up Musk’s problem to the “Twitter sitter” settlement. The billionaire has been lively on X for the reason that announcement however has but to touch upon the settlement.
Elon Musk Agrees To Testify In SEC Twitter Investigation watcher.guru 2024-05-31 05:22:49
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