Elon Musk is under investigation by federal authorities, court filings show

In a court filing released Thursday, Twitter’s attorneys claimed that Elon Musk is under federal investigation over his $44 billion deal with the social media platform.

Twitter sued Musk shortly after him announced in July that he wanted to back out of buying the social media platform. Musk said he was no longer interested in completing the deal because Twitter had refused to disclose information about fake accounts on the social media site.

Twitter’s lawsuit was dropped by Delaware Judge Kathaleen McCormick on Oct. 6, after Musk reversed his decision and said he would like to go through with the platform purchase. The judge ruled that Musk has until 5 p.m. Oct. 28 to finalize the deal. If the deal doesn’t go through by then, a trial date will be set for November.

That same day, Twitter’s attorneys filed the court filing accusing Musk of being investigated.

Corresponding BloombergAccording to the filing filed Thursday, “Elon Musk is currently under federal investigation for his conduct in connection with the Twitter acquisition.”

It did not specify why Musk was being investigated or which federal organization was conducting the investigation.

As part of Twitter’s complaint, it ordered Musk and his team to turn over correspondence with federal authorities. Twitter’s attorneys even listed specific dates for communications between the parties that Musk should provide them with.

Judge McCormick tweeted that Musk’s team was refusing to release certain documents, citing “investigative privileges.” The court papers said, “This game of hiding the ball must end.”

“Through an attorney, he has exchanged material correspondence with these agencies regarding their investigation,” the company’s attorneys wrote.

According to Twitter, Musk’s attorneys provided a “privilege memorandum” identifying the materials to be withheld, including a May 13 email from Musk’s team to the U.S. Securities and Exchange Commission and a slide presentation to Federal Trade Commission.

The SEC previously questioned Musk about his comments on the deal with Twitter, including why he said he was a passive shareholder. As a result, Musk filed a new disclosure stating that he would be an active shareholder.

An attorney for Musk, Alex Spiro, said Reuters that the social media company’s filing was a “misdirection.” He noted, “It’s Twitter executives who are being investigated at the federal level.”

Twitter and the FTC declined to comment on the matter, and the SEC did not immediately respond, Reuters reported.

https://www.theblaze.com/news/elon-musk-under-federal-investigation-court-filing-reveals Elon Musk is under investigation by federal authorities, court filings show

Laura Coffey

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