- 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.
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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.