Musk Faces SEC Sanctions for Missing Twitter Deposition

According to Mars Finance, the U.S. Securities and Exchange Commission (SEC) plans to sanction Elon Musk for failing to appear for a deposition regarding his $44 billion Twitter acquisition on the scheduled date of September 19, 2024. The SEC is also seeking monetary relief to cover travel expenses lost due to Musk's cancellation of the meeting, as well as "all other relief" the court may grant.

Musk's legal counsel has emphasized that the SEC has already accepted a request to reschedule the deposition to October 3, 2024, in Los Angeles, California, arguing that court intervention is unnecessary. The letter explains that Musk's absence from the previous meeting was due to an emergency and assures the court he will be present at the October deposition. (Cointelegraph)