KNOWLEDGE is POWER / REAL NEWS is KEY
New York: Thursday, October 10, 2024
© 2024 U-S-NEWS.COM
Online Readers: 348 (random number)
New York: Thursday, October 10, 2024
Online: 306 (random number)
Join our "Free Speech Social Platform ONGO247.COM" Click Here
Elon Musk

SCIENCE & TECH: Elon Musk facing potential sanctions for not testifiyng in Twitter probe

🔴 Website 👉 https://u-s-news.com/
Telegram 👉 https://t.me/usnewscom_channel

The Securities and Exchange Commission said on Friday it intends to seek sanctions against Elon Musk after he failed to appear for court-ordered testimony for the regulator’s probe into his $44 billion takeover of Twitter.

In a court filing, the SEC said the sanctions motion would seek an order to show cause for why Musk should not be held in civil contempt for waiting until just three hours before the scheduled Sept. 10 testimony to advise he would not appear.

Musk, whose businesses include electric car maker Tesla and rocket company SpaceX, went to Florida’s Cape Canaveral that day to oversee the launch of SpaceX’s Polaris Dawn mission.


Elon Musk’s lawyers called sanctions “drastic” and unnecessary, saying his testimony has already been rescheduled. AP

Lawyers for Musk called sanctions “drastic” and unnecessary, saying his testimony has already been rescheduled for Oct. 3.

A spokesman for the SEC declined to comment.


SEC Chair Gary Gensler
Wall Street’s top regulator is seeking sanctions against Elon Musk after he failed to appear for scheduled testimony for the regulator’s probe into his $44 billion takeover of Twitter. REUTERS

The SEC is investigating whether Musk broke federal securities laws in 2022 when he bought stock in Twitter, which he later renamed X.

It sued Musk last October after he refused to attend an interview for the probe. Musk has said the SEC was trying to “harass” him through subpoenas.



Source link

OnGo247
New 100% Free
Social Platform
ONGO247.COM
Give it a spin!
Sign Up Today
OnGo247
New 100% Free
Social Platform
ONGO247.COM
Give it a spin!
Sign Up Today