SEC sues Elon Musk for failing to testify further information on Twitter purchase

Elon Musk has faced many lawsuits since acquiring Twitter, the company known as X, but now the US Securities and Exchange Commission is suing the billionaire for failing to respond to a subpoena regarding further information into his purchase.

The Wall Street regulator is investigating potential violations of US securities laws regarding Mr Musk's $44 billion deal with the social media platform.

The SEC filed the lawsuit in the US District Court in northern California though stated that as the investigation is ongoing, it's not yet concluded if any laws were actually violated.

Tensions between the regulator and Mr Musk date back a few years now when the commission first filed a lawsuit against him back in 2018.

At the time, the settled fraud charge cost Elon Musk his role as Tesla chair and a $20 million penalty.

[LovelyLass-nbop]

The corrupt government starting to get desperate

[d-munn]

After Ripple, the SEC is seen as vulnerable. And they are. 'Regulation by Enforcement' is no longer tolerated..by design. Gary is a S*um Bag Regulator..by design, for the incumbents.

[d-munn]

Another SEC, L on the horizon. Elon has both barrels cocked.

[MikeGlen]

MOST rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them

[sislertx]

That is just their excuse for not obeying and shutting up

[bdfhvxz]

If EM "played nice", this wouldn't be happening. Like clockwork, isn't it? 😏

[davidhanak]

Don't trust this guy all the same

[summerfebruary]

let have a car ellon i get hit and run now not car no money and trouble to get work for u one car is like tips from u pocket for me will be Huge Blessing

[lastChang]

Elon Musk needs to register as a *foreign agent* (FARA) for the work he performed at the behest of the Chinese 🇨🇳 government:
- He helped China to export forced labor, made in China electric cars to other countries.
- He complained all the time, but always praised the Chinese regime.
- He advocated for AI slowdown so that China could catch up.
- He repeated Chinese lies of the century about independent Taiwan country as a "province of China."