Elon Musk is being investigated by US federal authorities for his conduct in connection with the acquisition of Twitter
Elon Musk is being investigated by federal authorities over his conduct in his $44 billion takeover deal for Twitter, the social media company said in a court filing released on Thursday.
Twitter has said Elon Musk is under investigation by US authorities for “his conduct in connection with the acquisition” of the social media company, according to a court filing.
Twitter’s lawyers said that they had demanded copies of “substantive correspondence” between Musk and federal authorities over the alleged investigation “months ago”, but his team failed to produce them.
It is very unclear why Twitter's lawyers think they have the right to demand from Elon Musk, who wants to acquire the full ownership of the company and make it private, should publicly reveal any of his private correspondence.
The documents at issue include a May 13 email to the Securities and Exchange Commission and a slide presentation to the Federal Trade Commission, according to a letter to judge Kathaleen McCormick of the Delaware Court of Chancery.
Musk first agreed to buy the social media platform in April for $44bn before attempting to pull out of the deal citing concerns over fake accounts, sparking a bitter legal dispute.
However, he revived his bid last week, prompting wrangling over the final shape of the sale. judge McCormick last week stayed the legal action until October 28 to give both sides the opportunity to come to a resolution.
In a text message, a lawyer for Musk, Alex Spiro, said Twitter’s letter was “misdirection”.
Twitter’s lawyers said that they had demanded copies of “substantive correspondence” between Musk and federal authorities over the alleged investigation “months ago”, but his team failed to produce them.
It is very unclear why Twitter's lawyers think they have the right to demand from Elon Musk, who wants to acquire the full ownership of the company and make it private, should publicly reveal any of his private correspondence.
The documents at issue include a May 13 email to the Securities and Exchange Commission and a slide presentation to the Federal Trade Commission, according to a letter to judge Kathaleen McCormick of the Delaware Court of Chancery.
Musk first agreed to buy the social media platform in April for $44bn before attempting to pull out of the deal citing concerns over fake accounts, sparking a bitter legal dispute.
However, he revived his bid last week, prompting wrangling over the final shape of the sale. judge McCormick last week stayed the legal action until October 28 to give both sides the opportunity to come to a resolution.
In a text message, a lawyer for Musk, Alex Spiro, said Twitter’s letter was “misdirection”.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
