US federal agency investigating billionaire Elon Musk in the purchase of Twitter
Twitter says federal authorities are investigating billionaire Elon Musk for his conduct in the $44 billion takeover of the social media network.
In a court filing published on October 13, Twitter said billionaire Musk was being investigated, but did not specify the focus of the investigation, nor which federal agency is carrying out the task. this case. In the filing, the company stated that it had asked the lawyers of billionaire Elon Musk to share the content of the exchange with the federal agency for many months but failed. Twitter then sent a letter asking a Delaware judge to intervene, asking Musk’s attorneys to provide the necessary documents.Last September, his team of lawyers released a “privilege list”, listing documents they decided not to release. The list mentions a number of manuscripts such as the May 13 email (email) to the US Securities and Exchange Commission (SEC) and an explanation before the Federal Trade Commission (FTC).< /p>
Since April this year, the SEC has questioned Mr. Musk’s comments surrounding the billionaire’s acquisition of Twitter. Meanwhile, the FTC is investigating Musk’s initial purchase of a 9% stake in Twitter, to see if the billionaire complied with antitrust reporting requirements when it bought back shares in early April. The legal team representing billionaire Musk, the SEC and the FTC has not yet responded to the above information.
The boss of Tesla announced it had reached an agreement to buy Twitter for $44 billion, or $54.2 per share, in April, but three months later expressed his intention to drop the acquisition. because of dissatisfaction with the data Twitter provides about the status of fake accounts on the platform. The social networking company filed a lawsuit and it was not until early October that the parties completed a settlement to postpone the lawsuit.
A Delaware state court judge gave the US billionaire until October 28 to complete the deal, otherwise, the trial will be reopened in November. Last week, billionaire Elon Musk suddenly announced that he wanted to resume the purchase of Twitter.
According to: Vietnam Lawyers Electronic Magazine
