The U.S. Securities and Exchange Commission (SEC) said it is seeking sanctions against billionaire Elon Musk for failing to appear and provide testimony to financial regulators regarding his $44 billion acquisition of the Twitter platform, Cointelegraph reported.
The meeting was originally scheduled for Sept. 19, 2024, and Musk’s legal representatives sought to reschedule the date multiple times, according to court documents.
The SEC alleges that Musk failed to obtain "the SEC's written consent or a court order" to modify the meeting with the SEC.
Musk's representatives called the move "radical" and criticized government regulators.