SEC Seeks Sanctions Against Elon Musk for Skipping Twitter Probe Testimony

The SEC argues Musk's absence from a court-ordered deposition on his $44 billion Twitter acquisition warrants serious repercussions.

Elon Musk missed a scheduled SEC testimony on September 10, citing an urgent need to oversee a SpaceX rocket launch.
This is the second time Musk has failed to appear for SEC testimony related to his 2022 acquisition of Twitter, now called X.
The SEC is investigating whether Musk violated securities laws during his purchase of Twitter stock and subsequent statements about the deal.
Musk's lawyers argue that the SEC's demand for sanctions is drastic, noting that the testimony has been rescheduled for early October.
The SEC is seeking to hold Musk in civil contempt and recoup travel costs incurred for the canceled testimony.