The Securities and Exchange Commission intends to seek sanctions against Elon Musk over his failure to appear for testimony in an investigation related to his takeover of Twitter, now called X, the regulator said in a court filing Friday.
Earlier this year, a federal judge ordered Musk to testify as part of the SEC’s probe of the billionaire’s $44 billion acquisition. The agency is examining whether Musk followed the law when disclosing his purchases of Twitter stock and whether his statements in relation to the deal were misleading.
That’s the FAA. The SEC could halt Trading in Tesla, spaceX and other musk companies while they investigate irregularities.
Tesla is the only Musk company that trades publicly