SEC to Seek Sanctions Against Elon Musk Over $44 Billion Twitter Acquisition Probe

Sep 20, 2024, 08:18 PM

The U.S. Securities and Exchange Commission (SEC) has announced its intention to seek sanctions against Elon Musk. The sanctions are due to Musk's failure to appear for scheduled testimony, violating a court order, in the SEC's investigation into his $44 billion acquisition of Twitter. This decision was revealed in a court filing on September 20, 2024. The SEC's probe focuses on Musk's compliance with regulatory requirements during the takeover process.