Financial regulators in the US are suing Elon Musk after the billionaire said he would no longer cooperate with its investigation into his purchase of Twitter, now known as X.
The Securities and Exchange Commission (SEC) asked a federal court to order him to comply with their request that he sit for a third session of testimony about the deal.
The move to sue followed receipt of a letter from a lawyer for Mr Musk, which said he refused to appear as requested.
The move to sue followed receipt of a letter from a lawyer for Mr Musk, which said he refused to appear as requested.
“Unchecked government action is dangerous and the record here is troubling. Mr Musk declines to acquiesce in the Commission’s incursions and therefore refuses to appear as you demand,” lawyer Alex Spiro wrote.
The lawsuit is the latest feud between the SEC and Mr Musk, who once declared on national television that he had “no respect” for the regulator.
The SEC launched its investigation of Mr Musk’s $44bn purchase of X last year.
The filing in San Francisco federal court said the agency is probing whether his 2022 stock purchases before he bought the company outright and statements he made about those investments broke securities laws.
Financial regulators in the US are suing Elon Musk after the billionaire said he would no longer cooperate with its investigation into his purchase of Twitter, now known as X.
The move to sue followed receipt of a letter from a lawyer for Mr Musk, which said he refused to appear as requested.
The Securities and Exchange Commission (SEC) asked a federal court to order him to comply with their request that he sit for a third session of testimony about the deal.
“Unchecked government action is dangerous and the record here is troubling. Mr Musk declines to acquiesce in the Commission’s incursions and therefore refuses to appear as you demand,” lawyer Alex Spiro wrote.
The move to sue followed receipt of a letter from a lawyer for Mr Musk, which said he refused to appear as requested.
The move to sue followed receipt of a letter from a lawyer for Mr Musk, which said he refused to appear as requested.
“Unchecked government action is dangerous and the record here is troubling. Mr Musk declines to acquiesce in the Commission’s incursions and therefore refuses to appear as you demand,” lawyer Alex Spiro wrote.
The lawsuit is the latest feud between the SEC and Mr Musk, who once declared on national television that he had “no respect” for the regulator.
The SEC launched its investigation of Mr Musk’s $44bn purchase of X last year.
The filing in San Francisco federal court said the agency is probing whether his 2022 stock purchases before he bought the company outright and statements he made about those investments broke securities laws.
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