The U.S. Securities and Exchange Commission said it intends to seek sanctions against Elon Musk after he failed to appear and testify in court amid the agency’s probe into his $44 billion takeover of Twitter, which he renamed X.
The SEC is asking for a court order to show cause why the Tesla CEO and SpaceX owner should not be held in civil contempt after he said he wouldn’t appear a mere three hours before the scheduled Sept. 10 testimony, Reuters reported.
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