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Elon Musk , the CEO of X and various other company with the letter “ X ” in their figure , is in regulators ’ crosshairs after skip testimonial this calendar month in an investigation related to Musk ’s coup d’etat of Twitter .
In a filing today , the U.S. Securities and Exchange Commission ( SEC ) tell that it intended to seek sanctions against Musk after Musk pass over a court - ordered appearance in a Los Angeles courthouse on September 10 . Per the filing , Musk did n’t notify the SEC that he would n’t be appearing until just three time of day before his testimony was pose to start .
“ The Court must make clear that Musk ’s gamesmanship and delay tactics must end , ” the filing read .
Musk instead spent September 10 overseeing the launching of Polaris Dawn , a spacecraft made by his space geographic expedition company , SpaceX , according to the filing .
The SEC ’s legal counsel offered to reschedule Musk ’s hearing to the following day , September 11 . But Musk ’s attorney declined , agreeing only to judicature dates in October .
The SEC is seeking “ meaningful conditional relief ” if Musk does n’t look in court in October . The agency also signaled that it plan to register a sanctions gesture against Musk to recoup its locomotion cost for the canceled testimonial and other relief . ( In the filing , the SEC said that it spent “ thousands of dollar ” to fly three attorneys to Los Angeles for the September 10 auditory modality . )
The investigation is the second meter Musk has been under the SEC ’s gun in late age . In 2018 , the agencyorderedMusk to step down as Tesla ’s chair and ante up $ 40 million in penalisation over tweet related to Tesla percentage that the SEC find to be market - manipulating . At the meter , Musk forebode the pseud charges an “ unjustified action . ”
The SEC has also investigated Musk and Tesla over claims regarding Tesla vehicles ’ “ full self - driving ” capacity , as well as Tesla ’s usage of society funds to build Musk a “ glass house . ”
you’re able to interpret the full filing below .
Updated 9/20 at 5:48 p.m. Pacific : We originallywrote that Musk fail to appear in a San Francisco courtroom . The court was in fact in Los Angeles ; we ’ve made the rectification and regret the computer error .
JOINT STATEMENT REGARDING universal gas constant … bySP - TechCrunch
