Elon Musk being investigated by federal authorities -Elon Musk In Trouble

Elon musk twitter deal

Twitter has revealed in a court document that Elon Musk is under investigation by federal authorities for his actions during the $44 billion (£39 billion) takeover of the social media platform.

Following months of legal disputes, the world's richest man recently declared he will proceed with buying the platform for the enormous sum.

Twitter claimed Mr. Musk's lawyers had invoked "investigative privilege" while refusing to provide the documents it had asked for when it sued the Tesla CEO in July to pressure him to finalise the purchase.

According to the social media giant, Mr. Musk's legal team had delivered a "permission log" in late September that listed the papers that were to be withheld.

A slide presentation for the Federal Trade Commission and a draught email to the US Securities and Exchange Commission (SEC) were also mentioned in the log.

The billionaire was reportedly under investigation, but the court document, which was made public on Thursday, did not specify why.

Instead, it requested that a judge order Mr. Musk's lawyers to provide the documents.

The filing was issued on October 6, the day after Mr. Musk declared he would move forward with the acquisition and the Delaware judge halted the legal proceedings between the parties.

Twitter stated in the document, "This game of hide the ball must end.

The petition, according to one of Mr. Musk's attorneys, Alex Spiro, was a "misdirection" by the business, he added, adding that "Twitter's management are under federal investigation."

Twitter chose not to respond to Mr. Spiro's remarks.

The SEC previously questioned Mr. Musk about remarks he made regarding the Twitter acquisition, so this is not the first time he has faced inquiries.

The SEC questioned Mr. Musk in April about whether his 9% Twitter investment statement was late and whether it suggested he intended to be a passive investor.

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