In a twist that will surely have Elon Musk’s fanbase in a buzz, the Securities and Exchange Commission (SEC) has made a bold move to have the Tesla CEO testify as part of their investigation into his purchase of Twitter, now rebranded as X. According to court documents filed by the SEC in a San Francisco federal court, Musk failed to show up for testimony on September 15th, even though he was served with an investigative subpoena and didn’t raise any objections at the time.
— The Washington Times (@WashTimes) October 5, 2023
But wait, it gets even juicier. Just two days before he was scheduled to testify, Musk pulled a classic Musk move and informed the SEC staff that he would not be appearing. And what was his reason for this sudden change of heart? Brace yourself—Musk objected to the location of the testimony, claiming San Francisco wasn’t an appropriate setting. It seems like the man who dreams of colonizing Mars can’t be bothered to testify in his own backyard.
While X, which is based in San Francisco, declined to comment on the situation, the SEC has stated that they are conducting a fact-finding investigation into the period before Musk’s acquisition of Twitter, back when the platform was publicly traded. It’s important to note that the agency hasn’t yet accused anyone of violating any federal securities laws, but the fact that they are pushing for Musk’s testimony certainly raises some eyebrows.
Stay tuned, folks. The drama surrounding Elon Musk just keeps on escalating, and we have a feeling this is far from the last we’ll be hearing about this Twitter-turned-X acquisition and the SEC’s investigation.