The United States Securities and Exchange Commission has commenced an investigation on Elon Musk over his $44 billion takeover of social media platform Twitter, which he renamed to X.
The SEC’s investigation was disclosed on Thursday when the US agency sued to compel Musk to testify in their investigation, which he previously agreed to do and then reneged on. Among his objections was that the SEC was trying to “harass” him and that his counsel needed time to review potentially relevant material contained in a biography of Musk published last month, the SEC said.
In a statement, the SEC said it was seeking “Musk’s testimony to obtain information not already in the SEC’s possession that is relevant to its legitimate and lawful investigation”.
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