Musk under federal investigation – Twitter lawyers

The billionaire is questioned about his failed acquisition of the social media company, according to a court filing

Billionaire Elon Musk is now under federal investigation into his failed $44 billion Twitter deal, the company said, in court documents seen by US media.

In a letter to Delaware Court of Chancery Judge Kathaleen McCormick, Twitter’s attorneys asked for help getting « documents on the probes. » Since July, company officials have been trying to receive files on « all communications with any governmental authority regarding the merger », as quoted by Bloomberg. Musk’s lawyers limited the release of documents, citing confidentiality rules.

“Elon Musk is currently under investigation by federal authorities for his conduct in connection with the acquisition of Twitter,” attorneys for Potter Anderson Corroon LLP, representing the social media giant, explained in an Oct. 6 filing.

« This ‘hide the ball’ game has to stop, » Twitter representatives said, pointing out that Musk’s attorneys have so far failed to provide requested documents in the legal proceedings.

The letter does not reveal which agency is conducting the investigation, what the substance of the investigation is, or whether it is a civil or criminal investigation.

Read more

Musk renews his efforts to buy Twitter

Musk’s attorney, Alex Spiro, in turn, described the case as a « direction errorand claimed that Twitter was trying to distract from its own legal troubles: In July, the company’s former chief security officer, Peiter « Mudge » Zatko, accused Twitter of deliberately ignoring certain security flaws serious.

“Twitter executives are under federal investigation. This misdirection was sent by Twitter to try and find out which of their various misconducts they are being investigated for,” Spiro told CNN.

Twitter officials declined to comment on Spiro’s statement. They also refrained from giving details of their understanding of any investigation into Musk, when approached by Reuters.

Earlier this month, Musk relaunched his bid to buy Twitter, months after previous negotiations soured and prompted the social media giant to sue in an attempt to force the massive buyout.

While Twitter later responded that it still hoped to complete the transaction on its original terms, the company did not say whether it would drop its lawsuit against Musk, which was launched in July.

Meanwhile, in the spring, the U.S. Securities and Exchange Commission confirmed it was investigating whether Musk was really a passive investor in Twitter, as he claimed, and whether he had properly disclosed the stake. of 9% that he had previously purchased. in the platform.


Back to top button