8 hours ago
Elon Musk is under federal investigation into his $ 44 billion acquisition of Twitter.
The news came from a court filing released Thursday on the latest developments regarding the ongoing legal disputes between the American billionaire and the social network.
According to the court file, Musk is under investigation but has not explained exactly what is being investigated.
“This ‘hide the ball’ game has to end,” the net owner said in the depot.
Musk did not immediately respond to a request for comment.
Twitter Inc, which sued Musk in July to force him to rescind the deal, said attorneys for Tesla’s CEO asked for “an exemption from investigation” when they refused to hand over the documents the company wanted.
He also claimed he asked Musk’s lawyers to provide their communications with federal authorities months in advance, but they didn’t.
In late September, Musk’s attorneys filed a “privilege record” to determine which documents should be withheld.
The registry cited drafts of a May 13 email to the US Securities and Exchange Commission, the US regulator that enforces the anti-market manipulation law.
He also referred to a presentation of the position he made to the Federal Trade Commission, whose main job is to promote antitrust law and consumer protection.
The court order was filed the same day the court decided to stop the litigation to allow Twitter and Musk to wrap up the acquisition.
Questions about the deal
The SEC questioned Musk’s comments on the Twitter acquisition.
In April, the SEC asked him if the disclosure of his 9% stake in Twitter was too late and why he indicated he intended to be a passive contributor. Musk later revealed the disclosure again to indicate that he is an active investor.
In June, the SEC asked Musk in a letter whether he should modify his public file to reflect his intention to suspend or abandon the deal.
Alex Spiro, Musk’s attorney, told Reuters news agency that Twitter’s request to the court was “misleading.”
“It is the Twitter executives who are the subject of a federal investigation,” he said.
Twitter declined to comment on the statement.
This comes at a time when the question of Musk’s proposed acquisition of Twitter has been going on for months, during which the American billionaire announced his desire to acquire the company, before backtracking, and then Twitter has filed a lawsuit against him asking him to abide by his word.
Then the American billionaire said he would go ahead with the deal, a few days before the two sides went to court.
