Article Image

IPFS News Link • SEC-Securities Exchange Commission

SEC Sues Elon To Compel Him To Testify;

• by Tyler Durden

The SEC, (which stands for either Suck Elon's C**k or the Securities and Exchange Commission depending on who you ask)...

... has sued Elon Musk (again), this time to compel - or at least try - the billionaire CEO of Tesla to testify regarding his purchase of Twitter last year, CNBC reported Thursday

The SEC alleged in a complaint filed in the Northern District of California that Musk didn't appear for testimony that was required via a subpoena that was served to Musk in May 2023. 

An official litigation release from the Securities and Exchange Commission, filed on Thursday, said: 

If a person or entity refuses to comply with a subpoena issued by SEC enforcement staff pursuant to a formal order of investigation, the Commission may file a subpoena enforcement action in federal district court seeking an order compelling compliance. According to the SEC staff's filing in the U.S. District Court for the Northern District of California, the testimony subpoena to Musk relates to an ongoing investigation by the SEC regarding, among other things, potential violations of various provisions of the federal securities laws in connection with (a) Musk's 2022 purchases of Twitter, Inc. ("Twitter") stock, and (b) Musk's 2022 statements and SEC filings relating to Twitter.