The US regulator through the court is demanding from Musk evidence of the purchase of Twitter

The US Securities and Exchange Commission (SEC) has sued Elon Musk to compel the businessman to testify as part of its investigation into the Twitter acquisition. Reuters reported this on October 5.

The regulator wants to know if Musk violated federal securities laws in 2022 when he bought shares of Twitter (now X) and if he filed the appropriate documents.

The statement said that in May 2023, the SEC issued a subpoena to the businessman seeking testimony at the Commission’s office in San Francisco. Musk agreed to appear on September 15, but two days before the meeting raised “some false objections” and informed the SEC that he would not be attending.

He also declined an offer to testify in Texas in October or November.

According to the SEC, Musk disputed his actions by saying the Commission was trying to “persecute” him.

The businessman’s objections indicate that he provided documents related to the investigation and testified in July last year via video conference.

“The SEC has taken testimony from Mr. Musk multiple times as part of this misappropriation investigation—rightfully so,” said Musk’s attorney Alexa Spiro.

Recall that in May last year, Twitter Inc shareholders sued Musk for price manipulation when buying the company for $44 billion. He saved $156 million by not disclosing that he had acquired more than 5% of Twitter on March 14, investors said.

Let’s recall that at the beginning of October 2022, six months after announcing plans to buy the social network, Musk announced that he was ready to complete the repeatedly delayed agreement.