Elon Musk to Face SEC Over Twitter Takeover Allegations; Shareholders and Employees File Complaints

Elon Musk required to respond to American stock market regulator regarding Twitter acquisition

A federal judge has ruled that Elon Musk will need to answer to the American stock market watchdog SEC as part of an investigation into the takeover of Twitter in 2022. The SEC is looking into whether Musk broke the law when he purchased shares of Twitter, which ultimately led to the social media site’s $44 billion takeover. In October, the SEC filed a complaint against Musk to compel him to testify.

Musk’s attorney, Alex Spiro, stated that Musk has been interviewed multiple times in connection with the investigation, which he referred to as misguided. Musk’s criticisms of Twitter before its acquisition and his decisions after the purchase have caused controversy, leading to legal action from investors, former employees, and companies with contracts with Twitter. Shareholders have also filed a complaint against Musk, alleging that he announced his 5 percent stake in Twitter too late.

In addition to the investigation into Musk and Twitter’s takeover, there are several unrelated links to websites that were included alongside the article but have not been included in this paraphrase.

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