The Securities and Exchange Commission (SEC) is planning to reprimand billionaire Elon Musk for skipping a previously-scheduled September testimony part of the agency\u2019s investigation into the businessman\u2019s $44 billion takeover of Twitter.\u00a0<\/p>\n
Tesla\u2019s CEO was scheduled to testify on Sept. 10 in front of the agency\u2019s three lawyers, the SEC said in a Friday filing. One of Musk\u2019s counselors told the SEC\u2019s lawyer that Musk would not be able to attend the scheduled testimony due to having to \u201curgently travel\u201d to Cape Canaveral, Fla. where SpaceX\u2019s Polaris Dawn was set to take off the following day.\u00a0<\/p>\n
This was the second time that Musk skipped out on testifying about the SEC\u2019s probe into the billionaire\u2019s acquisition of social media platform now-called X.\u00a0<\/p>\n
\u201cMusk has now failed to appear before the SEC twice: first in September 2023, in defiance of a lawful administrative subpoena, and last week, in defiance of a clear court order,\u201d SEC\u2019s lawyer Robin Andews wrote in the filing. It was filed in San Francisco federal court.\u00a0<\/p>\n
\u201cThe Court must make clear that Musk\u2019s gamesmanship and delay tactics must cease,\u201d he said.\u00a0<\/p>\n
The government agency\u2019s counsel argued Musk already knew in advance about the scheduled launch, considering his role as SpaceX\u2019s chief technical officer.\u00a0<\/p>\n
Alex Spiro, a lawyer representing Musk, said the SEC\u2019s sanctions are \u201cdrastic\u201d and that a new testimony date has been agreed upon. <\/p>\n
\u201cMr. Musk had to reschedule the September 10 testimony only as the result of such an emergency, as described above, and there is no reason to believe such an emergency will reoccur,\u201d Spiro said.\u00a0<\/p>\n
Spiro, in response to The Hill\u2019s request for comment, reiterated that the testimony was rescheduled for a \u201ccritical\u201d rocket launch and added that \u201cthe last time the SEC went hysterically running into court they were told to \u2018put their big boy pants on.\u2019\u201d\u00a0<\/p>\n