SEC Sues Elon Musk to Compel Testimony on Twitter Acquisition

The SEC filed a lawsuit against Elon Musk regarding his purchase of Twitter to compel him to testify.

The SEC is investigating if Musk violated securities laws when acquiring Twitter stock and making statements about the company in 2022.

Musk failed to appear for SEC testimony about the Twitter deal in San Francisco last month.

The SEC aims to force Musk to answer questions to determine if regulations were broken during the acquisition.

Musk closed the tumultuous $44 billion Twitter deal in October 2022 and proceeded to make major changes as CEO until stepping down in June 2023.