1 yr. ago • 95%

Elon Musk's Twitter takeover being probed by SEC

www.reuters.com Elon Musk's Twitter takeover being probed by SEC

Elon Musk, the world's richest man, is under investigation by the U.S. 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 — which escalates a long-running feud between the SEC and Musk — concerns whether Musk broke federal securities laws in 2022 when he bought 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 on Sept. 15. But then two days beforehand Musk raised "several spurious objections" and told the SEC he would not appear, the SEC said. Musk also refused to SEC proposals to conduct the deposition in Texas in October or November.

Among his objections was that the SEC was trying to “harass” him and that his counsel needed time to review potentially relevant material contained in a biography of Musk published last month, the SEC said.

33 comments

Couldn't be happening to a more deserving guy. Between the racism lawsuits, his ex-girlfriend lawsuit, investor lawsuits, former executive suing him, and now the SEC? I hope this is the year we take all of Elon's money.

124
- Just shows how weak our government is against the rich. If the SEC order any of us to appear we would appear or go to jail. These fucker can even ignore subpoena.
  
  71
  
  They couldn't even enforce their settlement with him over the fraud he was investigated for at Tesla. Which doesn't even count all the fraud they turned a blind eye to.
  
  33
  
  i.e., excessive wealth deferment
  
  4
- All of this could be why he’s slowly morphing into Kathy Bates, he’s looking for a disguise we might trust.
  
  27
  
  The only hypothesis that makes sense so far, IMO.
  
  8
  
  I know a guy whose ankles would disagree strongly with that assesment
  
  -1
- Maybe he and Trump can share a cell together.
  
  10
I think you're confusing harassment with oversight. You know, the entire point the SEC exists.

25
Watch how quickly nothing continues to happen.

20
Lets be real - someone this rich will not be punished regardless of what he does.

14
- You never know. Look what happened to Abramoff and Epstein.
  
  5
  
  Some optimism is nice on a Friday 👍
  
  2
  
  you lost all credibility
  Elon is a douche maybe but he is not a criminal and not even close (in Year lights) to these 2 pieces of shit.
  
  -8
C'mon, he was subpoenaed. I wish that shit meant something to the plutocrats.

13
This one's especially funny to me, Musk already HATES the SEC for probing his previous stock trading shenanigans

10
lol it’s going to come out that all that money came from Russia, Iran, and Saudi Arabia

10
Why does every post of this clown have a picture of him cosplaying as Dr Evil? If newsrooms can attach unflattering photos of Zuckerburg, they should be able to use unflattering pictures of Musk.

9
- I suggest this one.
  
  10
  
  That….is a lot to unpack.
  
  7
  
  Real "I can be your devil or your angle" energy
  
  1
This will go nowhere

-10
Hurr hurr hurr hurrr hurrr

-21

You've viewed 33 comments.