Tech mogul Elon Musk on Thursday sued the Securities and Exchange Commission (SEC) over a proposed settlement in its investigation into his 2022 acquisition of Twitter Inc. (now known as X Corp.). criticized.
in letter SEC Chairman Gary Gensler told Musk's attorney Alex Spiro that he had shared information about He said he was given 48 hours.
“This request follows a multi-year investigation and more than six years of harassment against Mr. Musk by the committee and its staff,” Spiro said in a letter Thursday.
He added, “The series of events shows that the commission is not motivated to seek the truth, but instead engages in a campaign of ulterior motives against Mr. Musk and individuals and companies associated with Mr. Musk.” It has been made clear,” he added. These actions, whether it's you or the White House. ”
In April 2022, the SEC launched an investigation into Musk's initial Twitter stock purchase and various statements he made and SEC filings related to the social media company. He ultimately plans to buy Twitter in October 2022 for $44 billion.
After giving two depositions to authorities, Musk refused to testify a third time in 2023, starting a month-long legal battle. The SEC sued the CEOs of Tesla and SpaceX, and a federal judge ultimately ordered him to testify.
Musk agreed to another deposition with authorities in May, but missed a scheduled court appearance in September. At the time, Musk's lawyers told the SEC that Musk needed to “urgently travel” to Cape Canaveral, Florida, where SpaceX's Polaris Dawn was scheduled to take off the next day.
The Twitter investigation is not Musk's first contact with the SEC. He previously reached a settlement agreement with authorities in 2018 over social media posts about Tesla.
As part of the agreement, lawyers had to approve some of Musk's posts about Tesla. A federal judge last year rejected the billionaire's challenge to the deal, prompting him to appeal to the Supreme Court. However, the High Court refused to hear his case in April.
Spiro's letter to the SEC chairman on Thursday also notes that the agency has reopened its investigation into Musk's brain chip company Neuralink.
“Oh Gary, how could you do this to me?” Musk wrote in a post about X accompanying the letter.
Musk, who donated at least $250 million to President-elect Trump's campaign, will become a key figure in the incoming administration, attending job interviews at Mar-a-Lago and phone calls with world leaders. It is reported that there are.
He is also preparing to take on a new role as head of the Department of Government Efficiency (DOGE) alongside technology entrepreneur Vivek Ramaswamy.
