Elon Musk is under investigation by federal authorities, Twitter reveals in court filings | Tech News

Elon Musk is being investigated by federal authorities over his actions in the $44bn (£39bn) takeover of Twitter, the social media company said in a court filing.

The richest man in the world recently announced that he will Continue to buy the platform The huge sum comes after months of legal battles.

Twitter sued the Tesla boss in July to force him to close the deal, saying Musk’s lawyers claimed “investigative privilege” when they refused to hand over documents it requested.

In late September, Mr. Musk’s legal team provided a “privilege log” that identified documents that needed to be kept, according to the social media giant.

The log mentions a draft email to the Securities and Exchange Commission (SEC) and a slide presentation to the Federal Trade Commission.

Court documents released Thursday said the billionaire was under investigation, but did not explain why.

Instead, it asked a judge to order Mr. Musk’s lawyers to turn over the documents.

The filing was filed on Oct. 6 — the same day a Delaware judge suspended the lawsuit between the two parties after Musk announced he would go ahead with the deal.

Please use the Chrome browser for a more accessible video player

Elon Musk tweets deals reopening

Read more: Elon Musk’s Twitter deal is back — but will he back out a second time?

“This hidden ball game must end,” Twitter said in the filing.

One of Musk’s lawyers, Alex Spiro, said the filing was “misleading” by the company, adding: “It’s Twitter executives who are under federal investigation.”

Twitter declined to comment on Mr Spiro’s statement.

This isn’t the first time Musk has been questioned, and the SEC has previously asked him about his comments on the Twitter acquisition.

In April, the SEC asked Mr. Musk if it was too late to disclose his 9% stake in Twitter, and why it suggested he
Intention to be a passive shareholder.

He later reapplied to show that he was an active investor.

Source link