JUST IN: Elon Musk allegedly under investigation for conduct in Twitter acquisition
- Elon Musk, the billionaire CEO of Tesla is allegedly under investigation by federal authorities, reported by Reuters
- In a letter to Delaware Judge McCormick, Twitter essentially asked the judge for access to correspondence shared between Musk’s team and authorities.
- Twitter declined to comment on a Musk attorney’s statements where he argues Twitter executives are under investigation by federal authorities and not Elon.
According to Reuters’ report, Elon Musk is currently under investigation by federal authorities over his conduct in the $44 billion Twitter acquisition deal. In a court filing released on Thursday, Twitter has requested all communication between Musk’s team and federal authorities.
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Federal Authorities investigate Musk over his conduct in the $44 billion deal
According to Reuters, Elon Musk is being investigated by federal authorities over his conduct in his $44 billion takeover deal for Twitter Inc. According to a court filing released on October 6, Tuesday, Musk is under investigation while it remains unclear what is the focus of the probe.
The filing leaves out the details of why federal authorities are investigating Musk for. In July 2022, Twitter sued Musk, forcing the billionaire entrepreneur to close the Twitter deal. Tesla attorneys exercised “investigative privilege” and refused to disclose documents that Twitter sought through its lawsuit.
In the latest update on the lawsuit, Judge McCormick of Delaware received a letter from Twitter asking to access correspondence/ documents shared between Musk’s team and government authorities. Twitter considers this information key to the litigation. Twitter asks the judge to put an end to the “game of hide the ball.”
Interestingly, on October 6, Musk asked for the litigation to reverse course and revealed his intentions to go ahead with the deal.
Alex Spiro, an attorney for Musk, told Reuters that Twitter's court filing was a "misdirection.” Spiro has accused Twitter executives of being under federal investigation and the tech giant has declined to comment. Twitter failed to respond to Reuters’ questions on the understanding of the investigation into Musk by federal authorities.
Breaking @TheTerminal - $TWTR claims in a court filing that @elonmusk is presently under investigation by federal authorities for his conduct in connection with the acquisition of Twitter
— Ed Ludlow (@EdLudlow) October 13, 2022
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
