Billionaire Elon Musk is under investigation by the Securities and Exchange Commission over his $44 billion takeover of social media giant Twitter, according to a Thursday court filing in which the agency sought to compel Musk to testify.
Billionaire Elon Musk is under investigation by the Securities and Exchange Commission over his $44 billion takeover of social media giant Twitter, according to a Thursday court filing in which the agency sought to compel Musk to testify.
The investigation concerns whether Musk broke federal securities laws in connection with his 2022 purchases of stock in Twitter, which Musk renamed X, as well as statements and SEC filings he made in relation to the deal.
The SEC said it subpoenaed Musk in May 2023 requiring him to provide testimony at the SEC’s San Francisco office, and that Musk had agreed to appear last month.
