The Securities and Exchange Commission sued billionaire Elon Musk on Thursday over his alleged refusal to testify in a probe into his purchase of X—formerly known as Twitter—last year, in Musk’s latest legal battle with federal regulators.
Chief Executive Officer of SpaceX and Tesla and owner of Twitter, Elon Musk attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre on June 16, 2023 in Paris, France. (Photo by Chesnot/Getty Images)
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The SEC is investigating if Musk violated securities laws when he began buying shares of Twitter last year, leading up to his purchase of the entire company last October for $44 billion, according to a filing Thursday that asks a federal judge to force Musk to testify.
The agency said Musk agreed to testify last month, but “abruptly notified the SEC staff that he would not appear” two days beforehand, citing “spurious objections.”
