Elon Musk Faces SEC Investigation over Twitter Acquisition
The post Elon Musk Faces SEC Investigation over Twitter Acquisition appeared first on Coinpedia Fintech News
Tesla owner, “Elon Musk” is currently embroiled in an investigation by the US Securities and Exchange Commission (SEC) over his acquisition of Twitter, which is now rebranded as X. The SEC is looking into whether Musk violated federal securities laws during his stock purchases and through subsequent statements and filings related to the deal. Musk was issued a subpoena in May 2023, mandating his appearance at the SEC’s San Francisco office, but he raised objections and ultimately refused to comply. Despite the legal turmoil, Musk has not shied away from revealing potential plans for Twitter. The SEC remains steadfast in pursuing information from Musk, emphasizing that the testimony sought is crucial for its legitimate and lawful investigation.
