Elon Musk, the boss of The stock market watchdog is seeking to determine whether the billionaire broke the law at the time of this acquisition.
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Elon Musk has already happened twice. Last September, he did not attend a first summons from the American stock market policeman. For the second attempt in October, the billionaire again refused to travel. The policeman of the American markets files a complaint, highlighting the blatant refusal to comply by the billionaire, who argues that he has already provided all the necessary documents in this file.
A federal judge therefore ruled, ordering the execution of this subpoena. Elon Musk and the SEC have one week to agree on a meeting date and location.
The suspicions mainly relate to “ his Twitter stock purchases », before its takeover. Thus, in October 2022, the billionaire has already accumulated a stake of 9.2% in his future company exceeding the threshold of 5% of the capital, which requires him to inform the regulator.
However, he waited until April 4, six months later, to make his stakes public. Elon Musk is not at his first attempt since he is regularly criticized for the fact that he distils information on X, which influences the prices of his companies listed on the stock exchange.
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