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SEC Steps Up Scrutiny Over Musk Comments On Twitter Buy

By  |  July 14, 2022

The US securities regulator quizzed Elon Musk last month over a tweet in which the world’s richest person raised doubts over whether he would move ahead with his $44 billion acquisition of Twitter due to concerns over the number of fake users on the platform.

The US Securities and Exchange Commission (SEC) asked Musk in a letter whether he should have amended his public filing to reflect his intention to suspend or abandon the deal, according to the June 2 letter made public on Thursday.

The agency was referring to his May 17 tweet in which he said the “deal cannot move forward” until Twitter provided more data about how the company handled fake accounts.

The letter shows the SEC has been tracking Musk’s statements on the blockbuster deal, increasing pressure on the Tesla Inc boss who has been locked in a feud with the SEC over his tweets about Tesla since 2018. The agency already has several open probes into Musk, according to court filings and media reports.

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