The U.S. Securities and Exchange Commission said it intends to seek sanctions against Elon Musk after he failed to appear and testify in court amid the agency’s probe into his $44 billion takeover of Twitter, which he renamed X.
The SEC is asking for a court order to show cause why the Tesla CEO and SpaceX owner should not be held in civil contempt after he said he wouldn’t appear a mere three hours before the scheduled Sept. 10 testimony, Reuters reported.
This story is breaking. Please check back for updates.
Read the full article here