The U.S. Securities and Exchange Commission (SEC) has taken legal action against Elon Musk. The owner of SpaceX, Nueralink, the Boring Company, Tesla and X, formerly known as Twitter, is being compelled to give his testimony in its ongoing investigation into his acquisition of the social media giant, X.
The SEC’s lawsuit is a significant development in the scrutiny surrounding Musk’s high-profile purchase of the platform, and it raises questions about whether he violated federal securities laws during the transaction.
The SEC’s announcement came on Thursday, as it sought a court order from the U.S. District Court for the Northern District of California, San Francisco Division, to mandate Musk’s testimony.
This legal move followed Musk’s failure to appear before the SEC’s investigators on September 15, a requirement stemming from a subpoena issued in May.
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