{"id":86108,"date":"2023-10-06T02:31:57","date_gmt":"2023-10-06T06:31:57","guid":{"rendered":"https:\/\/www.hedgeco.net\/news\/?p=86108"},"modified":"2023-10-06T02:36:05","modified_gmt":"2023-10-06T06:36:05","slug":"sec-files-subpoena-enforcement-action-against-elon-r-musk","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2023\/sec-files-subpoena-enforcement-action-against-elon-r-musk.html","title":{"rendered":"SEC Files Subpoena Enforcement Action Against Elon R. Musk"},"content":{"rendered":"\n<p>(HedgeCo.Net) The Securities and Exchange Commission (\u201cSEC\u201d) has filed an application seeking an order directing <strong>Elon Musk <\/strong>(\u201cMusk\u201d) to comply with an investigative subpoena calling for his appearance for testimony, with which Musk failed to comply.<\/p>\n\n\n\n<p>If a person or entity refuses to comply with a subpoena issued by SEC enforcement staff pursuant to a formal order of investigation, the Commission may file a subpoena enforcement action in federal district court seeking an order compelling compliance.<\/p>\n\n\n\n<p>According to the SEC staff\u2019s filing in the U.S. District Court for the Northern District of California, the testimony subpoena to Musk relates to an ongoing investigation by the SEC regarding, among other things, potential violations of various provisions of the federal securities laws in connection with (a) Musk\u2019s 2022 purchases of Twitter, Inc. (\u201cTwitter\u201d) stock, and (b) Musk\u2019s 2022 statements and SEC filings relating to Twitter. According to the filing, the SEC seeks Musk\u2019s testimony to obtain information not already in the SEC\u2019s possession that is relevant to its legitimate and lawful investigation.<\/p>\n\n\n\n<p>According to the filing, Musk failed to appear for testimony as required by the investigative subpoena served by the SEC, despite: (1) agreeing to appear for testimony on a mutually agreed upon date in September 2023; (2) having been served with a subpoena in May 2023 requiring his appearance for testimony in the SEC\u2019s San Francisco Regional Office on that mutually agreed upon date; and (3) raising no objection to the subpoena from May 2023 until two days before his scheduled testimony date in September 2023, when Musk notified the SEC that he would not appear. According to the filing, Musk attempted to justify his refusal to comply with the subpoena by raising, for the first time, several spurious objections. &nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(HedgeCo.Net) The Securities and Exchange Commission (\u201cSEC\u201d) has filed an application seeking an order directing Elon Musk (\u201cMusk\u201d) to comply with an investigative subpoena calling for his appearance for testimony, with which Musk failed to comply. If a person or [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,3,16048,16047],"tags":[],"class_list":["post-86108","post","type-post","status-publish","format-standard","hentry","category-hedgeco-networks-press-releases","category-hedgeco-news","category-hedgecovest-news","category-insider-trading-2"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/86108","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=86108"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/86108\/revisions"}],"predecessor-version":[{"id":86109,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/86108\/revisions\/86109"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=86108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=86108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=86108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}