SEC says Elon Musk should be sanctioned if he keeps dodging Twitter depositions [CNBC]
Tesla, Inc. (TSLA)
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Source: CNBC
The federal agency complained, in a filing out Friday, that Musk recently canceled a deposition at the last minute, which cost the SEC time and money. The SEC has been investigating whether Musk or anyone else working with him committed securities fraud in 2022 as he sold shares in Tesla and began shoring up his stake in Twitter. The Securities and Exchange Commission has asked a federal judge to sanction Elon Musk if he continues to violate the court's order to appear for a deposition in a probe of his 2022 Twitter acquisition. The SEC has been investigating whether Musk or anyone else working with him committed securities fraud in 2022 as the Tesla CEO sold shares in his automaker and shored up a stake in Twitter, ahead of his leveraged buyout of the company now known as X. In May, the court ordered Musk to appear for a deposition by the financial regulators regarding the Twitter deal. “Musk has now failed to appear before the SEC twice: first in September 2023, in defian
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- 11/4/24 - Form 4
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