Elon Musk is the subject of a federal inquiry, according to Twitter: filing

The actions of Elon Musk in connection with his $44 billion acquisition of Twitter are being looked into by federal authorities.
That’s what Twitter claims in a court document that was made public on Thursday.
The submission did not, however, specify the precise subject matter of the investigations or the federal agencies in charge of them.

In April, Musk made a contract to purchase the social networking platform, but later changed his mind and wanted to call off the transaction. Later, he had another change of heart and now approved the takeover.

JUDGE QUASHES MUSK-TWITTER TRIAL FROM OCTOBER 17, GIVING TESLA CEO MORE TIME TO SEALED $44B DEAL

Elon Musk in a jacket with a phone displaying the Twitter logo behind him

To compel Musk to complete the transaction, Twitter sued him in July.

When asked for the requested documents, the Tesla CEO’s lawyers refused, citing “investigative privilege.”
According to Twitter, Musk’s lawyers gave a “permission log” detailing the papers to be withheld in late September.

The log included references to drafts of emails written on May 13 to the Federal Trade Commission and the Securities and Exchange Commission of the United States (SEC) (FTC).

The business stated in the court document that “this game of ‘hide the ball’ must end.”
TWITTER claims that it intends to finalize a deal with Elon Musk.
In the court petition, Delaware judge Kathaleen McCormick was urged to order Musk’s lawyers to turn over the paperwork.

Twitter San Francisco

The request was submitted on October 6, the same day that McCormick put an end to the legal dispute between the parties after Musk changed his mind and declared he would move forward with the transaction.

It is Twitter’s management who are under federal investigation, according to Musk attorney Alex Spiro, who claimed in a statement to Reuters that Twitter’s court petition was a “misdirection.”

Twitter chose not to respond to Spiro’s assertion. It also declined to comment when Reuters questioned it regarding any Musk-related investigations.

ELON MUSK ESTABLISHES REQUIREMENTS FOR THE BUYING OF TWITTER TO PROCEED

An inquiry for comments was not immediately answered by the SEC, while the FTC declined to comment.

Elon Musks Twitter account is displayed on the screen of an iPhone in front of the homepage of the Twitter website

The SEC has raised concerns about Musk’s remarks regarding the purchase of Twitter, including whether a 9% position he had amassed had been reported timely and whether it suggested he intended to be a passive shareholder.

TWTR TWITTER INC., Ticker Security Last Change Change% 50.39 0.48 0.96% Tesla Inc. (TSLA) 221.72 4.48 2.06% Later, Musk amended the declaration to reflect his active investor status.

The FTC is investigating whether Musk complied with the antitrust reporting obligation relating to an investor’s plans to be a passive or active shareholder, according to a report from the tech news site The Information in April.