Elon Musk investigated over Twitter acquisition, SEC: request for testimony is legal: Okezone techno

SAN FRANCISCO – Elon Musk investigated in a lawsuit brought by the U.S. Securities and Exchange Commission (SEC). The lawsuit is linked to the acquisition of the giant Twitter platform, now called X, in October 2022.

Reported by the site Reuters, Friday (06/10/2023) The SEC has issued a subpoena for Musk to provide testimony regarding the investigation. The call made last Thursday is said to be a continuation of Musk’s cancellation of his presence at the previous call.

It is known that Musk canceled the confirmation of his presence at the SEC office in San Francisco for the May 2023 call. The appearance scheduled for September 15 was canceled two days earlier due to objections that had accompanied the proposal of the SEC to hold a deposition in Texas in October or November.

Represented by lawyer Alex Spiro, Musk believes the investigation has reached the wrong stage.

“The SEC has taken testimony from Mr. Musk multiple times in this misleading investigation: enough,” Alex Spiro, Musk’s lawyer, said in a statement.

However, the SEC itself believes it is legitimate to submit a request for testimony against Musk. This is because the testimony itself is necessary to obtain information that is not yet relevant to the investigation.

“Musk’s testimony seeks to obtain information that the SEC does not yet have that is relevant to its lawful and legitimate investigation,” an SEC spokesperson said in a statement.

On the other hand, the investigation into the acquisition of Twitter has been ongoing since last year. In 2022, the SEC questioned Musk’s possible violations of federal securities laws when he buys shares on Twitter. In this initial investigation, Musk himself testified via video conference and submitted documents as evidence in July last year.

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