The U.S. Securities and Exchange Commission has announced its intention to pursue sanctions against Elon Musk for his failure to appear and testify in court regarding the agency's investigation into his $44 billion acquisition of Twitter, which he rebranded as X.
The SEC is seeking a court order to explain why the Tesla CEO and SpaceX founder should not be held in civil contempt. Musk informed the agency of his decision not to testify a mere three hours before the scheduled appearance on September 10.
