The US Securities and Exchange Commission (SEC) has announced that it has filed a sanctions lawsuit against billionaire Elon Musk for failing to testify to the financial regulator regarding the $44 billion purchase of the Twitter platform.
According to court documents, the meeting was initially scheduled for September 19, 2024, and Muskâs legal representatives have sought to reschedule the date several times.
The SEC accused Musk of violating the terms of the agreement by changing the meeting without obtaining the written approval of the Securities and Exchange Commission or a court order.
Muskâs representatives called the move âdrasticâ and criticized the government regulator.
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