US SEC urges federal judge to push Elon Musk to provide testimony regarding its investigation into his acquisition of social media powerhouse Twitter, reports Reuters.
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The U.S. Securities & Exchange Commission (SEC) has urged a federal judge to force #ElonMusk to testify for its investigation into his $44 billion takeover of social media giant #Twitterhttps://t.co/Ks8quz0Twx
— Mint (@livemint) November 17, 2023
The US Securities and Exchange Commission (SEC) has requested a federal judge to compel billionaire Elon Musk to provide testimony regarding its investigation into his acquisition of social media powerhouse Twitter, which is currently referred to as X.
The Securities and Exchange Commission (SEC) has defended its actions to obtain testimony from Elon Musk in a federal court filing in San Francisco. The agency stated that its officials are acting within their legal authority.
The U.S. Securities and Exchange Commission on Thursday urged a federal judge to force billionaire Elon Musk to testify for its investigation into his $44 billion takeover of social media giant Twitter, now known as X. ⤵️ https://t.co/jZvRS3JtP0
— 𝕸𝖆𝖗𝖎𝖊 🇲🇽🇺🇸⚔️ 🌊🐺♒💃💙🌻 (@LMarieVResists) November 16, 2023
The Securities and Exchange Commission (SEC) recently announced that it was conducting an investigation into Elon Musk’s stock purchases in Twitter, which he later renamed X, as well as his statements and SEC filings regarding his acquisition of the social media company.
Despite being requested to participate in an interview for the investigation in September, Musk declined to attend.
On November 2nd, Musk and his legal team requested that the judge deny the SEC’s motion to compel his testimony, arguing that he had already testified twice and that the agency was overstepping its boundaries. However, the SEC dismissed these claims on Thursday, asserting that they are indeed authorized by law to seek testimony and documents as part of their investigative efforts.
The SEC is asking the federal judge to force Elon Musk to testify over his $44 billion acquisition of Twitter.
Seems like SEC doesn’t like first amendment.https://t.co/DuK71KLmSl
— Brett Kessler (@BrettKessler_) November 17, 2023
The US market regulator, SEC, has acknowledged the receipt of new documents in their ongoing investigation, as stated in their previous interview.
The recent court battle is yet another instance of the contentious relationship between the SEC and the wealthiest individual on the planet.
Meanwhile, shortly after Elon Musk publicly endorsed an anti-Semitic conspiracy theory, a recent report has revealed that major companies’ advertisements were found on pro-Nazi content on X, which is Musk’s platform formerly known as Twitter.
By Thursday evening, IBM, one of the companies whose ads were found on such content, has taken immediate action by officially halting all advertising on X.
In a statement provided to reputable sources like the Financial Times and The Verge, IBM expressed their strong stance against hate speech and discrimination, emphasizing their zero tolerance policy. They stated that they have suspended all advertising on X while they thoroughly investigate this completely unacceptable situation.
On Wednesday, Musk responded to a user’s post that was spreading an anti-Semitic conspiracy theory, which suggests that Jewish individuals are replacing white people with immigrants from minority groups. Musk’s reply, which has now garnered nearly 6 million views on X, was in agreement with the theory, stating, “You have spoken the truth.”
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