The Securities and Change Fee (SEC) mentioned it intends to hunt sanctions towards Elon Musk after he failed to seem and testify in court docket amid the company’s probe into his $44 billion takeover of Twitter, which he renamed X.
The SEC is asking for a court docket order to point out trigger why the Tesla CEO and SpaceX proprietor shouldn’t be held in civil contempt after he mentioned he would not seem a mere three hours earlier than the scheduled Sept. 10 testimony, Reuters reported, citing a submitting in San Francisco federal court docket.
Musk’s actions violated a Might 31 court docket order compelling his testimony, it mentioned.
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As a substitute of showing in court docket, Musk, 53, traveled to Florida’s Cape Canaveral the identical day to watch the launch of SpaceX’s Polaris Daybreak mission.
“Musk’s excuse itself smacks of gamesmanship,” SEC lawyer Robin Andrews wrote. “The court docket should clarify that Musk’s gamesmanship and delay ways should stop.”
The SEC declined to touch upon the matter to FOX Enterprise.
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Musk’s lawyer, Alex Spiro, mentioned his consumer’s failure to testify on Sept. 10 was the results of an “emergency” he didn’t trigger, and “there is no such thing as a purpose to consider such an emergency will reoccur,” the report mentioned.
FOX Enterprise has additionally reached out to X and Spiro.
In July, Musk mentioned he misunderstood SEC disclosure necessities, suggesting his delay was a “mistake.”
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In October 2023, the monetary regulator sued after Musk missed a scheduled interview at its San Francisco workplace.
Musk has mentioned the SEC was attempting to “harass” him by way of subpoenas.