Elon Musk bought Twitter a year and a half ago and that’s what happened. Musk, who changed the platform from top to bottom, is in trouble because of this acquisition. The SEC has been scrutinizing the Elon Musk Twitter acquisition move since 2022. Musk, who is not at peace with the SEC, is being called to testify again.
Forced SEC testimony decision for Elon Musk after Twitter acquisition
Elon Musk, who was once the richest businessman in the world, confronted the SEC after his decision to buy Twitter. The SEC, the US Securities Exchange Commission, has been questioning this purchase from the first moment. In fact, Elon Musk has previously testified to the SEC on the subject. However, the commission called Musk to testify again in September due to new evidence.
Elon Musk did not respond to these calls and refused to testify to the SEC for the second time. In this sense, Musk thinks that the SEC acted biased and exceeded its authority. Unable to bring Elon Musk to testify in good faith, the SEC applied to the California Court.
US Magistrate Judge Laurel Beeler sided with the SEC in her decision. Accordingly, Elon Musk and the SEC must set a joint date within a week. If a joint date is not set, the court will set this date itself. Elon Musk, on the other hand, is obliged to give a second testimony for the SEC.
After the Elon Musk Twitter acquisition move in 2022, the SEC scrutinized this acquisition. Musk’s late disclosure of how many shares of Twitter he held caused the SEC to open an investigation.
Elon Musk is of the opinion that the SEC did not act in accordance with the rules and conducted a biased investigation. However, it is a matter of curiosity how Elon Musk will make a statement after this decision of the court. Again, the documents newly obtained by the SEC regarding the purchase of Twitter are also a matter of curiosity.
Elon Musk made big changes after buying Twitter. In this sense, Musk made the name of the social media platform X and removed the bird logo. In the company
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