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SEC Intensifies Probe into Elon Musk's Twitter Takeover

The SEC accuses Elon Musk of employing delay tactics and misrepresenting the investigation's scope, as his testimony remains pending.

Overview

  • The SEC has been investigating Elon Musk since 2022 for potential violations of federal securities laws during his acquisition of Twitter.
  • Musk is accused of using 'gamesmanship' to delay the SEC's investigation, including refusing to testify and misrepresenting the investigation's scope.
  • A federal judge ordered Musk to testify in February, but his testimony has still not taken place.
  • The SEC's filing references a biography on Musk, suggesting it contains new information relevant to the investigation.
  • Musk's legal team claims the investigation is an 'unbounded investigation into an allegedly days-late SEC filing,' a claim the SEC disputes.