SEC To Seek Sanctions After Musk Dodges Testimony

Reuters reports:

U.S. Securities and Exchange Commission said on Friday it intends to seek sanctions against Elon Musk after he failed to appear for scheduled testimony for the regulator’s probe into his $44 billion takeover of Twitter.

In a court filing, the SEC said the sanctions motion would seek an order to show case for why Musk should not be held in civil contempt. Musk’s lawyers called sanctions “drastic” and unnecessary, saying his testimony has already been rescheduled.

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The SEC said it intends to seek sanctions against Elon Musk after he failed to appear for scheduled testimony for the regulator’s probe into his $44 billion takeover of Twitter https://t.co/8KcbnO606t pic.twitter.com/sdcTIwcPtA

— Reuters Legal (@ReutersLegal) September 20, 2024

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