Reported 4 months ago
Elon Musk has agreed to testify in the US Securities and Exchange Commission's investigation into his 2022 purchase of Twitter. Musk will participate in a five-hour deposition after deciding not to challenge a court order compelling him to comply with a government subpoena. The SEC is examining Musk's Twitter stock purchases and statements preceding his $44 billion acquisition of the platform, marking the latest development in a legal battle over the buyout. Furthermore, Musk, already a two-time witness in the SEC's scrutiny of his initial actions in the Twitter acquisition, has consented to another pre-trial deposition. The SEC is investigating whether Musk, the world's third-richest individual, violated securities laws by failing to timely disclose his initial 9.2% Twitter stake.
Source: YAHOO