(Reuters) – Businessman Elon Musk is the target of an investigation by the American stock market watchdog, the Securities and Exchange Commission (SEC), for his entry into the capital of the social network Twitter, which he acquired last year, shows a court document made public Thursday.
According to this document, the SEC is seeking a court order to compel Elon Musk to respond to a subpoena.
She indicated that the millionaire, also boss of the electric vehicle manufacturer Tesla, among others, had not shown up for a hearing, as had been agreed.
The investigation concerns a possible violation by Elon Musk of stock market regulations last year when he took a minority stake in Twitter before becoming its buyer. It also concerns statements and documents filed with the SEC in connection with this transaction.
A lawyer for Elon Musk said in a statement that the SEC had already heard from his client “numerous times in this misguided investigation.” “Enough is enough,” added Alex Spiro.
The SEC and Elon Musk have had tense relations since 2018 and a tweet published at the time by the businessman to announce his desire to remove Tesla from the stock market, ensuring he had the necessary funds.
(Reporting Shivansh Tiwary in Bangalore; Jean Terzian)
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