SEC Sues Musk, Seeks To Force Testimony Over Twitter Purchase
Portfolio Pulse from Adam Eckert
The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Tesla Inc's CEO, Elon Musk, seeking his testimony over his 2022 Twitter purchase. The SEC launched an investigation to determine if securities fraud was committed during Musk's Twitter takeover. Musk reportedly bought Twitter shares before taking it private in a $44 billion deal. The SEC has tried to meet with Musk multiple times, but he has refused, citing various reasons including harassment.
October 05, 2023 | 9:03 pm
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Tesla Inc could be impacted by the SEC's lawsuit against its CEO, Elon Musk, over his 2022 Twitter purchase. The SEC is investigating potential securities fraud during Musk's Twitter takeover.
The lawsuit filed by the SEC against Tesla's CEO, Elon Musk, could potentially impact the company's stock price. The regulator is investigating potential securities fraud during Musk's Twitter takeover, which could lead to legal and financial consequences for Musk and Tesla. The uncertainty surrounding the lawsuit and its potential outcomes could negatively affect investor sentiment and Tesla's stock price in the short term.
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IMPORTANCE 80
RELEVANCE 100