According to Golden Finance, the SEC intends to impose sanctions on Elon Musk for failing to appear in court on the scheduled date (September 19, 2024) and provide testimony to financial regulators regarding the $44 billion Twitter acquisition. The SEC is also seeking monetary relief to cover travel expenses incurred due to Musk's cancellation of the meeting, as well as "any and all other relief" that the court may deem appropriate.

Musk's legal counsel emphasizes that the SEC had already accepted a request to reschedule the meeting to October 3, 2024, in Los Angeles, California, and believes court intervention is unnecessary. The letter explains that Musk's absence from the previous meeting was due solely to an emergency, and assures the court he will attend the October meeting.