He pushed to investigate Elon Musk over his purchase of Twitter shares last year
US market regulators asked the judiciary on Thursday to order Elon Musk to comply with a subpoena in order to answer questions about his purchase of Twitter shares last year.
The request came after Musk, who increased his stake in Twitter before purchasing the company for $44 billion, did not attend a hearing scheduled for September before the Securities and Exchange Commission (SEC), on the basis of a legal filing in this case.
The agency said in court documents that Musk’s “continued refusal to comply with the agency’s administrative subpoena impedes and delays the investigation by its employees to determine whether there have been violations of the federal securities laws.”
Accordingly, the authority is now asking the court to force Musk to appear before an investigating judge.
Court documents stated that the authority’s investigation relates to all of Musk’s purchases of Twitter shares in the year 2022, in addition to his data and files with market regulators.
Musk participated in two half-day testimonies last July, before the body, which told the court that it had since received “thousands of documents” that raised questions that the American billionaire was required to answer.
The committee also stated in the file that Musk’s objections to the last testimony included an accusation that the authority was using its authority to “harass” him.
In response to an inquiry from Agence France-Presse, Musk’s lawyer, Alex Spiro, said: “The authority has already taken Musk’s testimony several times in this misleading investigation, and that is enough.”
(AFP, Al-Arabi Al-Jadeed)
2023-10-06 08:40:24
#Pressure #investigate #Elon #Musk #buying #Twitter #shares