Bussiness
SEC will seek sanctions against Elon Musk in Twitter probe over failure to appear in court
Musk shares the same view as Farage that the U.K.’s police commissioner is a significant threat to free speech.
The Securities and Exchange Commission (SEC) said it intends to seek sanctions against Elon Musk after he failed to appear and testify in court amid the agency’s probe into his $44 billion takeover of Twitter, which he renamed X.
The SEC is asking for a court order to show cause why the Tesla CEO and SpaceX owner should not be held in civil contempt after he said he wouldn’t appear a mere three hours before the scheduled Sept. 10 testimony, Reuters reported, citing a filing in San Francisco federal court.
Musk’s actions violated a May 31 court order compelling his testimony, it said.
The X account of Elon Musk in seen blocked on a mobile screen in this illustration after Brazil’s telecommunications regulator suspended access to Musk’s X social network in the country. (Reuters/Jorge Silva/File / Reuters)
Instead of appearing in court, Musk, 53, traveled to Florida’s Cape Canaveral the same day to observe the launch of SpaceX’s Polaris Dawn mission.
“Musk’s excuse itself smacks of gamesmanship,” SEC lawyer Robin Andrews wrote. “The court must make clear that Musk’s gamesmanship and delay tactics must cease.”
The SEC declined to comment on the matter to FOX Business.
ELON MUSK MOCKS MEDIA FOR OVERWHELMINGLY NEGATIVE COVERAGE OF TRUMP’S X EVENT: ‘SO PREDICTABLE’
The X logo is displayed on a smartphone. (Budrul Chukrut/SOPA Images/LightRocket via Getty Images / Getty Images)
Musk’s attorney, Alex Spiro, said his client’s failure to testify on Sept. 10 was the result of an “emergency” he did not cause, and “there is no reason to believe such an emergency will reoccur,” the report said.
FOX Business has also reached out to X and Spiro.
Elon Musk arrives at an awards ceremony in Los Angeles on April 13. (Etienne Laurent/AFP via Getty Images / Getty Images)
In July, Musk said he misunderstood SEC disclosure requirements, suggesting his delay was a “mistake.”
GET FOX BUSINESS ON THE GO BY CLICKING HERE
In October 2023, the financial regulator sued after Musk missed a scheduled interview at its San Francisco office.
Musk has said the SEC was trying to “harass” him through subpoenas.
Business Openings: Gorjana, Fitness Lounge NYC, Monsieur Bistro, Dos Toros | East Side Feed
Survey: In-store shopping remains key for holiday consumers
How Social Impact World Is Building A Global Network Of Corporate Changemakers
Worldview | Jakarta Fashion Week Reimagines Indonesia’s Textile Heritage
10 Lesser-Known Holiday Travel Tips—According To Travel Agents
Australia Issues New Travel Alerts for Israel and Lebanon Amid Middle East Conflict : Check Out The Latest Update – Travel And Tour World
In Fashion, Smoking Is Still for the Hot and Cool
Why Warriors’ next three games are precisely what they need
PXG makes golf apparel push at Scottsdale Fashion Square store
