Put Your AD here!

Feds seek sanctions against Elon Musk after tech mogul skipped testimony for probe into $44B Twitter takeover

Feds seek sanctions against Elon Musk after tech mogul skipped testimony for probe into $44B Twitter takeover


This article was originally published on NY Post - Technology. You can read the original article HERE

The Securities and Exchange Commission said on Friday it intends to seek sanctions against Elon Musk after he failed to appear for court-ordered testimony for the regulator’s probe into his $44 billion takeover of Twitter.

In a court filing, the SEC said the sanctions motion would seek an order to show cause for why Musk should not be held in civil contempt for waiting until just three hours before the scheduled Sept. 10 testimony to advise he would not appear.

Musk, whose businesses include electric car maker Tesla and rocket company SpaceX, went to Florida’s Cape Canaveral that day to oversee the launch of SpaceX’s Polaris Dawn mission.

Elon Musk
Elon Musk’s lawyers called sanctions “drastic” and unnecessary, saying his testimony has already been rescheduled. AP

Lawyers for Musk called sanctions “drastic” and unnecessary, saying his testimony has already been rescheduled for Oct. 3.

A spokesman for the SEC declined to comment.

SEC Chair Gary Gensler
Wall Street’s top regulator is seeking sanctions against Elon Musk after he failed to appear for scheduled testimony for the regulator’s probe into his $44 billion takeover of Twitter. REUTERS

The SEC is investigating whether Musk broke federal securities laws in 2022 when he bought stock in Twitter, which he later renamed X.

It sued Musk last October after he refused to attend an interview for the probe. Musk has said the SEC was trying to “harass” him through subpoenas.

This article was originally published by NY Post - Technology. We only curate news from sources that align with the core values of our intended conservative audience. If you like the news you read here we encourage you to utilize the original sources for even more great news and opinions you can trust!

Read Original Article HERE



YubNub Promo
Header Banner

Comments

  Contact Us
  • Postal Service
    YubNub Digital Media
    361 Patricia Drive
    New Smyrna Beach, FL 32168
  • E-mail
    admin@yubnub.digital
  Follow Us
  About

YubNub! It Means FREEDOM! The Freedom To Experience Your Daily News Intake Without All The Liberal Dribble And Leftist Lunacy!.


Our mission is to provide a healthy and uncensored news environment for conservative audiences that appreciate real, unfiltered news reporting. Our admin team has handpicked only the most reputable and reliable conservative sources that align with our core values.