Financial officials in the United States have filed a lawsuit against Elon Musk after the billionaire stated that he would no longer assist with their probe into his purchase of Twitter, now known as X. The Securities and Exchange Commission (SEC) petitioned a federal judge to require him to appear for a third session of testimony about the deal. The lawsuit was filed in response to the receipt of a letter from Mr Musk’s lawyer stating that he refused to present as required, reports Technology News UK.
The SEC was accused of “harassment” by the group. “Unchecked government action is risky, and the track record here is troubling.” “Mr Musk refuses to accede to the Commission’s incursions and thus refuses to appear as you demand,” lawyer Alex Spiro wrote.
The complaint is the latest squabble between the SEC and Mr Musk, who previously stated on national television that he had “no respect” for the regulator—the SEC began an inquiry into Mr Musk’s $44 billion purchase of X last year. According to the lawsuit in federal court in San Francisco, the agency is investigating whether his 2022 stock acquisitions and claims about those transactions violated securities laws.