The SEC is investigating the Tesla owner for his “tug-of-war” in the purchase of the social network: proposal, backtrack and finally the recent reopening. Legal of the social: “Understand if there have been irregularities”
Elon Musk under investigation by the American agency that controls stock market operations (the SEC). Under investigation the statements of the owner of Tesla, and the “take and leave” of the entrepreneur, in the long Twitter purchase negotiation.
Survey on the performance of the social media titles
The SEC, the federal stock exchange control agency had sent Musk a request for clarification on April 4 on how he had moved with the shares of Twitter. The billionaire explained that he had acquired more than 9 percent, and then moved on to launch a public offering of $ 44 billion. But the attention of the authorities is on the trend of the share price, also linked to the public statements and on social networks of the billionaire himself.
Twitter lawyers: “Understand if there have been irregularities”
The lawyers of Twitter Inc. have asked the Delaware court to have access to the exchange of emails between the entrepreneur and the federal authorities: “Musk – the lawyers of the Potter Anderson Corroon Llp firm write in the request – is currently under investigation, from part of the federal authorities for the acquisition of Twitter “.
The application was filed on 6 October but only emerged today. Bloomberg first broke the news. One of Musk’s lawyers, Alex Spiro, called Twitter’s request a “diversion”. A lawsuit is currently pending between the parties in the Delaware court. The judge in charge of the case, Kathaleen McCormick, gave until October 28 to reach an agreement before proceeding.