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A federal judge in San Francisco has denied the SEC’s request to sanction Elon Musk over missed testimony in a Twitter probe.
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Musk had failed to appear for court-ordered testimony in September, but eventually complied with the order by testifying on October 3.
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The SEC is investigating whether Musk violated securities laws by delaying the disclosure of his growing Twitter stake in early 2022.
A federal judge has ruled in favor of Elon Musk, denying the SEC’s request to sanction him for missing court-ordered testimony in a probe related to his $44 billion takeover of Twitter. Musk had failed to appear for testimony in September, but eventually complied with the order by testifying on October 3 and agreeing to cover the SEC’s $2,923 in travel costs.
The SEC had sought a declaration that Musk violated a May 31 court order by not appearing for his scheduled September 10 testimony. However, Judge Jacqueline Scott Corley ruled that imposing sanctions against Musk was unnecessary since he eventually complied with the order.
The SEC’s investigation into Musk’s handling of his Twitter stock purchase remains ongoing. The regulator is probing whether Musk violated securities laws by delaying the disclosure of his growing Twitter stake in early 2022.
