Federal investigators are looking into Elon Musk, the billionaire CEO of Tesla and SpaceX, in relation to his actions around the $44 billion Twitter acquisition deal. According to a recent filing by Twitter, which seeks to uncover crucial documents Musk is allegedly hiding from the company.
According to Reuters, it is still unclear what the inquiry is specifically focused on or which federal agencies are carrying it out.
Twitter asserted that Musk allegedly cited “investigative privilege” in his refusal to provide the documents the company requested in September. A “privilege log” of documents that Musk’s lawyers specifically provided included a draught email sent to the U.S. Securities and Exchange Commission (SEC) in May and a slide show presentation for the Federal Trade Commission (FTC).
Twitter stated in the court document that “this game of ‘hide the ball’ must end.”
The filing urged Delaware judge Kathaleen McCormick to order Musk’s lawyers to deliver the requested documents. The same judge suspended the lawsuit between Musk and Twitter on October 6 after the Dogecoin lover opted to proceed with the acquisition once more.
One of the billionaire’s attorneys named Alex Spiro asserted that Twitter’s filing is merely misleading the public. “It is Twitter’s executives that are under federal investigation,” he claimed.
Musk has until October 28 to complete the Twitter acquisition deal; if not, McCormick will establish a trial date for the following month.
Tesla CEO was supposed to buy Twitter in May after publicly announcing a 9% stake in the firm in April. He turned down a position on its board of directors.
Despite Twitter’s acceptance, Musk eventually tried to back out of the deal, allegedly because Twitter didn’t give him sufficient information on the spam bots on its platform. In response, he was sued by Twitter for failing to carry out the deal, which he has since agreed to do.
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