Elon Musk faces off with the SEC in court over Twitter takeover probe
Published: 11:36 14 Dec 2023 EST
Elon Musk and the US Securities and Exchange Commission are headed to a San Francisco court hearing Thursday.
The SEC filed a suit against Musk in October in an effort to compel him to testify as part of the agency's investigation into Musk’s $44 billion purchase of Twitter. Musk did not comply with an interview request from the SEC in September as part of the probe.
The agency is investigating whether Musk broke the law when filing paperwork related to his purchases of Twitter stock and whether he made misleading statements about the deal.
After the October lawsuit, lawyers for Musk wrote in a filing, “The SEC's pursuit of Mr. Musk has crossed the line into harassment."
Musk and the SEC have battled for years over his public statements, going back to 2018, when the Tesla CEO tweeted that he had secured the funding to take the company private.
Now, the two parties have a hearing scheduled for 9:30 am PT (12:30 pm ET), when the SEC will try to show that the probe is within its authority and that the evidence the agency is seeking from Musk is relevant.
