In the SEC’s response to a motion filed by Elon Musk, the agency wrote that he “continues to distort the true scope of this investigation — his only hope for establishing that the SEC is not seeking relevant evidence” and that he “continues to misrepresent the relevance of his additional testimony.”. Before announcing his bid for the company, he quietly bought up Twitter shares, garnering a nine percent stake in the company.
noted, SEC rules require investors who buy more than five percent of a company’s shares to disclose their stakes within 10 days of purchase — Musk allegedly missed this deadline, according to the agency. in California federal court after he failed to appear for testimony on Sept. 15 as required by an investigative subpoena served by the agency.
The SEC alleged Musk was using “gamesmanship” to stall the probe, pointing out that while his legal team has claimed the investigation is an “unbounded investigation into an allegedly days-late SEC filing,” the agency “has repeatedly informed Musk that it is false.”'Oppenheimer' Reigns at Oscars With Seven Wins, Including Best Picture and Director: Full Winners List
Trump’s Treasury Secretary Steven Mnuchin Wants to Buy TikTok Amid Brewing Threat of U.S. Ban: ‘It’s a Great Business’
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