Elon Musk is facing investigation in America, Twitter informed the court

Washington: The ongoing deal between Elon Musk and Twitter has not reached any result yet. According to local media reports, documents filed in court have revealed that Elon Musk is under federal investigation in the US over a $44 billion acquisition deal with Twitter. Musk had earlier backed out of his proposal to acquire Twitter, against which Twitter has taken refuge in the court. Before the hearing against Musk proceeded in court, he has presented a proposal to buy Twitter afresh, which Twitter has accepted. Elon Musk has offered to buy Twitter at the original price of $54.20 per share.

Twitter said that the company requested Musk’s lawyers for months to submit details of interviews and inquiries with federal officials, but they did not. Now Twitter has asked a Delaware judge to order Elon Musk’s lawyers to provide documents. At the end of September, Musk’s lawyers provided a ‘privilege log’ to the company, according to a court document provided by Twitter. This included an email sent to the US Securities and Exchange Commission on May 13 and a slide presentation sent to the Federal Trade Commission.

Twitter has said in its court filing, this game of ‘hide-and-seek’ must end. Twitter’s request was filed in court on October 6, the same day a Delaware judge halted the trial to allow Twitter and Musk to execute the acquisition deal. The SEC questions Musk’s comments about the Twitter acquisition. In April, the SEC asked Musk whether the disclosure of his 9% Twitter stake was late and why he indicated that he intended to become a passive shareholder. Musk later denied the disclosure, indicating that he was an active investor.

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Tags: Elon Musk, Investigation, Twitter