The US securities regulator is taking Elon Musk to court over his refusal to testify in an investigation into his purchases of Twitter stock and his statements surrounding the $44bn takeover of the social media platform.
In a filing in California federal court on Thursday, the Securities and Exchange Commission said it was conducting an “ongoing non-public investigation” into whether Musk had “violated various provisions of the federal securities laws” in connection with “his purchases of Twitter stock” and “his 2022 statements and SEC filings relating to Twitter”.
The SEC said he failed to testify on September 15, as required by a subpoena it had issued. It asked the court to compel him to appear, “in the face of Musk’s blatant refusal to comply”.