Elon Musk Faces Potential Sanctions in SEC Probe Over 2022 Twitter Acquisition After Missing Two Scheduled Depositions

Benzinga

The Securities and Exchange Commission has requested that a federal judge sanction Elon Musk for failing to comply with a court order requiring his deposition in an investigation into his 2022 acquisition of Twitter, now X. The SEC is probing potential securities fraud involving Musk's sale of Tesla shares and his stake in Twitter before the buyout. Musk missed two scheduled depositions, and his attorney argues the rescheduling was due to an emergency, adding that Musk has cooperated in other investigations. A pension fund has sued Musk, accusing him of concealing his Twitter investments, potentially affecting other shareholders.

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00:00It's Benzinga, and here's what's on the block.

00:02The Securities and Exchange Commission has requested that a federal judge sanction Elon

00:07Musk for failing to comply with a court order requiring his deposition in an investigation

00:12into his 2022 acquisition of Twitter, now X.

00:15The SEC is probing potential securities fraud involving Musk's sale of Tesla shares and

00:20his stake in Twitter before the buyout.

00:22Musk missed two scheduled depositions, and his attorney argues the rescheduling was due

00:26to an emergency, adding that Musk has cooperated in other investigations.

00:31A pension fund has sued Musk, accusing him of concealing his Twitter investments, potentially

00:36affecting other shareholders.

00:37For all things money, visit Benzinga.com.

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