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Elon Musk, the billionaire CEO of Tesla, finds himself once again in the crosshairs of the SEC over his Twitter stock purchases before he eventually bought the entire company. The SEC is attempting to force Musk to provide testimony to their investigation, claiming that he has been dodging their attempts to get his side of the story.that Elon Musk is again under SEC scrutiny.
The SEC demanded more information from Musk on his public statements regarding whether Twitter adheres to free speech principles. The commission also asked Musk to explain his decision to file a 13G disclosure form which is usually filed by investors that plan to hold their shares passively.
Musk, despite agreeing to an interview with the SEC last month in San Francisco, raised objections just two days before the scheduled September 15 meeting. The billionaire claimed that San Francisco jurors harbor a dislike for him based on a questionnaire sent to 200 prospective jurors, which returned with a majority holding negative opinions of the entrepreneur.
In an attempt to accommodate Musk, the SEC proposed relocating the interview to Fort Worth, Texas, where Musk resides. However, the agency asserts that he refused to meet altogether, further complicating the investigation and potentially straining the relationship between the regulatory body and one of the most high-profile tech titans in the world.
This is not Musk’s first tangle with the SEC. The Tesla CEO has previously been ordered to have a lawyer review his Tesla-related tweets after the infamous 2018 incident where Musk tweeted that he had “funding secured” to take Tesla private for $420 per share, asserting that investor support for the deal was confirmed. The subsequent fluctuation in Tesla’s share price prompted an SEC investigation into whether Musk had committed securities fraud.
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