SEC To Seek Sanctions Against Elon Musk in Twitter Probe
The U.S. Securities and Exchange Commission (SEC) said on Friday it intends to seek sanctions against Elon Musk in its ongoing Twitter probe. The SEC says Musk failed to appear for court-ordered testimony for their probe into his $44 billion takeover of X. JUST IN: SEC seeks sanctions against Elon Musk in its X (Twitter) takeover investigation. pic.twitter.com/bF6Cr3gszt — Watcher.Guru (@WatcherGuru) September 20, 2024 The SEC wrote in a court filing Friday that the sanctions motion would seek an order to show cause for why Musk should not be held in civil contempt. Musk waited until just three hours before the scheduled Sept. 10 testimony to advise he would not appear, according to the regulator. The SEC has been investigating Musk’s purchase of Twitter for 11 months, looking to get the Tesla founder to testify. They are investigating potential violations of U.S. securities laws around the purchase, according to an SEC filing in October 2023. The SEC sued Musk that month to compel hi