The Securities and Exchange Commission plans to sanction Elon Musk for failing to appear in court to testify about the 2022 acquisition of Twitter.
The SEC said in a court filing on Friday that Musk failed to give court-ordered testimony on Sept. 10. The SEC said Musk waited until three hours before the scheduled start of the hearing to announce that he would not be appearing, violating a court order compelling him to testify.
On the day of the hearing, Musk was in Florida for a rocket launch for SpaceX, the rocket company he founded and serves as CEO.
“Despite this advance knowledge, Mr. Musk did not notify the SEC of his intention to attend the conference until three hours before the testimony was to begin and after the SEC had spent thousands of dollars to fly three lawyers to Los Angeles,” the filing said.
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“Musk’s excuses themselves reek of maneuvering,” SEC attorney Robin Andrews wrote. “The Court must make it clear that Musk’s maneuvering and delaying tactics must end.”
The hearing has been rescheduled for October 3rd.
The SEC’s investigation is into whether Musk violated securities laws when he bought Twitter, now renamed X.
Musk has already testified twice in the SEC investigation, and his third testimony was forced by a California judge in February after Musk and the FEC were unable to independently agree on a date, time or location for a third meeting.