Musk was asked to testify in the SEC's investigation into its $44 billion acquisition of Twitter. Specifically, the SEC is investigating whether there was securities fraud in 2022. This is because Elon Musk had built up his position by buying a large number of Twitter shares before the leveraged buyout of the social media company. After completing the acquisition, Musk renamed Twitter to X.
Additionally, in a court order dated February 10, 2024, federal district judge Laurel Beeler noted that while Musk and his legal team argued that the SEC's subpoenas amounted to harassment of the billionaire, the regulator's request was legal and within its authority. The judge also mentioned that the SEC was looking for "certain, material information" in its investigation.
In summary, Musk and the SEC now have a week to determine the specific date and location for his testimony. As of the latest report, Musk, his lawyer Alex Spiro, and the SEC did not immediately respond to requests for comment. #马斯克 #证券 #证券欺诈