The SEC intends to impose sanctions on Mr. Musk for failing to appear in court on his scheduled date of September 19, 2024, and to testify to financial regulators about the $44 billion Twitter acquisition. The SEC is also seeking monetary relief to cover lost travel costs as a result of Mr. Musk's cancellation, as well as "all other relief" the court may grant the SEC.
Musk's legal counsel emphasized that the Securities Exchange Commission had accepted a request to reschedule the meeting to October 3, 2024 in Los Angeles, California, and argued that the court's intervention was unnecessary. The letter explained that the only reason for Musk's absence from the previous meeting was an emergency, and assured the court that he would attend the October meeting.
The SEC plans to impose sanctions on Musk for failing to testify in court about the Twitter acquisition
2024-09-21 04:38:14
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