TechFlow reported on September 21 that Cointelegraph reported that the U.S. Securities and Exchange Commission (SEC) is seeking sanctions against Elon Musk for failing to attend the investigative hearing on the $44 billion Twitter acquisition as planned. On September 21, the SEC filed documents with the court asking Musk to explain why he should not be held in civil contempt and seeking compensation for travel expenses incurred by canceling the meeting.

According to court documents, the hearing was originally scheduled for September 19, 2024. Musk has repeatedly requested a rescheduling, but the SEC accused him of violating the terms of the agreement reached in May 2024 by modifying the meeting schedule without the SEC's written consent or court order. Musk's lawyer Alex Spiro countered that the move was "too aggressive," and the two sides have agreed to postpone the hearing to October 3 in Los Angeles, emphasizing that such a delay is "insignificant" in the two-and-a-half-year investigation.