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The SEC officials investigating Elon Musk over his handling of the Twitter takeover seem to be growing more and more impatient with his legal antics. The two sides have been locked in a dispute over Musk\u2019s refusal to testify in the investigation.Now, in a new filing, the SEC accuses Musk of trying to \u201cmisrepresent\u201d the regulator\u2019s investigation. \u201cMusk continues to distort the true scope of this investigation \u2013 his only hope for establishing that the SEC is not seeking relevant evidence,\u201d the SEC writes in a court document.<\/p>\n
The SEC has been investigating Musk <\/a> over his delayed disclosure of his stake in Twitter, which was then a publicly-traded company. The regulator <\/a> Musk last year in an effort to force him to testify in the investigation. The SEC said <\/a> it was investigating \u201camong other things, potential violations of various provisions of the federal securities laws in connection with\u201d his purchase of Twitter stock and \u201cSEC filings relating to Twitter.\u201d A federal judge ordered Musk to comply with the subpoena and schedule an interview <\/a>.<\/p>\n That testimony has apparently still not taken place, with the SEC accusing Musk of using \u201cgamesmanship\u201d to stall the investigation. The regulator goes on to note that while Musk\u2019s legal team has claimed the probe is an \u201cunbounded investigation into an allegedly days-late SEC filing,\u201d that \u201cthe SEC staff has repeatedly informed Musk that it is false.\u201d<\/p>\n Musk, according to the SEC, is also being investigated for securities fraud. \u201cThis investigation also examines potential securities fraud in violation of Section 10(b) of the Securities Exchange Act \u2026 related to, among other things, Musk\u2019s public statements about his acquisition of Twitter,\u201d the SEC says.<\/p>\n Notably, the filing also references the recently-released <\/a>y of Musk written by Walter Isaacson, which contains \u201cnewly released evidence,\u201d according to the SEC. \u201cThree days before he was to appear for the testimony he failed to attend, his September 2023 biography was published,\u201d the SEC writes. \u201cThis book provides important new information relevant to the SEC\u2019s investigation.\u201d<\/p>\n It\u2019s also not the first time Isaacson\u2019s account of the Twitter takeover has landed Musk in hot water. A group of <\/a> suing Musk over unpaid severance also referenced a passage from the book in their lawsuit.<\/p>\n X didn\u2019t immediately respond to a request for comment.<\/p>\n<\/div>\n