US regulator sues Elon Musk for failing to testify about Twitter deal

By Ovunc Kutlu

ISTANBUL (AA) - The US Securities and Exchange Commission (SEC) sued Elon Musk on Thursday in an effort to force him to testify about his purchase last year of Twitter, which is now known as X.

The SEC argued that Musk failed to appear for testimony on Sept. 15 as required by a subpoena and delayed the regulator's ongoing investigation, which aims to find out whether the $44 billion purchase of the social media firm violated any federal laws.

"These good faith efforts were met with Musk’s blanket refusal to appear for testimony," the SEC wrote in its complaint filed in the Northern District of California.

The complaint noted that SEC officials tried to come up with an agreed time and place to meet with the billionaire in October and November.