SEC Plans Sanctions Against Elon Musk for Missing Deposition

PANews, September 21: According to Cointelegraph, the US Securities and Exchange Commission (SEC) plans to sanction Elon Musk for failing to appear for a deposition on the originally scheduled date of September 19, 2024, and provide testimony to the financial regulator regarding the $44 billion acquisition of X (formerly Twitter).

Elon Musk's legal counsel emphasized that the SEC had already accepted a request to reschedule the meeting for October 3, 2024, in Los Angeles, California, and argued that court intervention was unnecessary. The letter explained that the sole reason for Musk's absence from the previous meeting was an emergency and assured the court that he would attend the October meeting.